Forex Trend Analysis Report
Prepared for you on Tuesday, August 16, 2022.
US Dollar/Moroccan Dirham (FOREX:USDMAD)
Countertrend Up (+85) - USDMAD is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid USDMAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDMAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDMAD
The long-term trend has been UP since Aug 9th, 2021 at 8.97225
The intermediate-term trend has been UP since Aug 14th, 2022 at 10.31570
The short-term trend has been UP since Aug 14th, 2022 at 10.27098
Smart Scan Analysis for USDMAD
Based on our trend formula, USDMAD is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).