Forex Trend Analysis Report
Prepared for you on Thursday, March 23, 2023.
Gold Spot (FOREX:XAUUSDO)
Countertrend Up (+85) - XAUUSDO 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 XAUUSDO?
MarketClub looks at technical strength and momentum to determine if the timing is right for XAUUSDO.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XAUUSDO
The long-term trend has been UP since Dec 1st, 2022 at 1785.10
The intermediate-term trend has been UP since Mar 12th, 2023 at 1869.85
The short-term trend has been DOWN since Mar 22nd, 2023 at 1935.55
Smart Scan Analysis for XAUUSDO
Based on our trend formula, XAUUSDO is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).