Forex Trend Analysis Report
Prepared for you on Monday, December 11, 2023.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Crossroads (-60) - USDCAD is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid USDCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDCAD
The long-term trend has been UP since Sep 5th, 2023 at 1.363950
The intermediate-term trend has been DOWN since Nov 24th, 2023 at 1.362945
The short-term trend has been DOWN since Dec 11th, 2023 at 1.355130
Smart Scan Analysis for USDCAD
Based on our trend formula, USDCAD is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).