Forex Trend Analysis Report
Prepared for you on Monday, August 8, 2022.
US Dollar/Colombian Peso (FOREX:USDCOP)
Sidelines Mode (+55) - USDCOP 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 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 May 2nd, 2022 at 3992.0
The intermediate-term trend has been DOWN since Aug 1st, 2022 at 4250.0
The short-term trend has been UP since Aug 3rd, 2022 at 4328.5
Smart Scan Analysis for USDCOP
Based on our trend formula, USDCOP is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).