Forex Trend Analysis Report
Prepared for you on Monday, December 9, 2019.
Euro/Canadian Dollar (FOREX:EURCAD)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for EURCAD
The long term trend has been DOWN since Jun 20th, 2019 at 1.49040
The intermediate term trend has been UP since Oct 30th, 2019 at 1.46882
The short term trend has been DOWN since Dec 4th, 2019 at 1.46262
Smart Scan Analysis for EURCAD
Based on a pre-defined weighted trend formula for chart analysis, EURCAD scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).