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Forex Trend Analysis Report
Prepared for you on Tuesday, October 8, 2024.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Bull Market Weakness (+75) - USDCAD is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDCAD as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid USDCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for USDCAD
The long-term trend has been DOWN since Aug 23rd, 2024 at 1.353450
The intermediate-term trend has been UP since Oct 8th, 2024 at 1.364725
The short-term trend has been UP since Oct 3rd, 2024 at 1.353955
Smart Scan Analysis for USDCAD
Based on our trend formula, USDCAD is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.36234 | 1.36765 | 1.36178 | 1.36485 | +0.00251 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.36234 | 2024-10-08 19:24:15 |