Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
Special drawing rights/Canadian Dollar (FOREX:XDRCAD)
Long-Term Downtrend (-90) - XDRCAD is in a strong downtrend that is likely to continue. While XDRCAD is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid XDRCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for XDRCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XDRCAD
The long-term trend has been DOWN since Oct 14th, 2021 at 1.7623539
The intermediate-term trend has been DOWN since Sep 26th, 2021 at 1.7979287
The short-term trend has been DOWN since Sep 23rd, 2021 at 1.8034501
Smart Scan Analysis for XDRCAD
Based on our trend formula, XDRCAD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).