Forex Trend Analysis Report
Prepared for you on Wednesday, November 29, 2023.
US Dollar/Colombian Peso (FOREX:USDCOP)
Crossroads (-60) - USDCOP 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 USDCOP?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCOP.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDCOP
The long-term trend has been UP since Oct 4th, 2023 at 4234.53
The intermediate-term trend has been DOWN since Oct 30th, 2023 at 4093.05
The short-term trend has been DOWN since Nov 24th, 2023 at 4047.70
Smart Scan Analysis for USDCOP
Based on our trend formula, USDCOP is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).