Forex Trend Analysis Report
Prepared for you on Friday, February 26, 2021.
US Dollar/Moroccan Dirham (FOREX:USDMAD)
Bear Market Rally (-75) - USDMAD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on USDMAD as it may be in the beginning of a reversal.
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 DOWN since Nov 27th, 2020 at 9.1015
The intermediate-term trend has been DOWN since Feb 18th, 2021 at 8.9250
The short-term trend has been UP since Feb 24th, 2021 at 8.9130
Smart Scan Analysis for USDMAD
Based on our trend formula, USDMAD is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).