Forex Trend Analysis Report
Prepared for you on Thursday, October 17, 2019.
Euro/Colombian Peso (FOREX:EURCOP)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 EURCOP
The long term trend has been UP since May 2nd, 2019 at 3601.4
The intermediate term trend has been UP since Oct 10th, 2019 at 3779.5
The short term trend has been UP since Oct 10th, 2019 at 3777.5
Smart Scan Analysis for EURCOP
Based on a pre-defined weighted trend formula for chart analysis, EURCOP scored +80 on a scale from -100 (strong downtrend) to +100 (strong uptrend).