Forex Trend Analysis Report
Prepared for you on Monday, August 15, 2022.
Special drawing rights/Canadian Dollar (FOREX:XDRCAD)
Strong Downtrend (-100) - XDRCAD is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, XDRCAD continues to fall. 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 Aug 11th, 2022 at 1.6928803
The short-term trend has been DOWN since Jul 27th, 2022 at 1.7141733
Smart Scan Analysis for XDRCAD
Based on our trend formula, XDRCAD is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).