Forex Trend Analysis Report
Prepared for you on Monday, March 20, 2023.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Sidelines Mode (+55) - USDCAD is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement 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 Mar 7th, 2023 at 1.37445
The intermediate-term trend has been UP since Feb 16th, 2023 at 1.34735
The short-term trend has been DOWN since Mar 12th, 2023 at 1.37455
Smart Scan Analysis for USDCAD
Based on our trend formula, USDCAD is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).