Forex Trend Analysis Report
Prepared for you on Tuesday, October 3, 2023.
US Dollar/Special drawing rights (FOREX:USDXDR)
Countertrend Up (+85) - USDXDR 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 USDXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDXDR
The long-term trend has been UP since Aug 28th, 2023 at 0.7521531
The intermediate-term trend has been UP since Jul 31st, 2023 at 0.7446193
The short-term trend has been UP since Sep 11th, 2023 at 0.7530542
Smart Scan Analysis for USDXDR
Based on our trend formula, USDXDR is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).