Forex Trend Analysis Report
Prepared for you on Friday, August 23, 2019.
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend 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 EURLRD
The long term trend has been UP since Apr 19th, 2017 at 90.66
The intermediate term trend has been UP since Mar 21st, 2019 at 186.15
The short term trend has been DOWN since Aug 23rd, 2019 at 227.18
Smart Scan Analysis for EURLRD
Based on a pre-defined weighted trend formula for chart analysis, EURLRD scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).