Forex Trend Analysis Report
Prepared for you on Wednesday, October 21, 2020.
Euro/Special drawing rights (FOREX:EURXDR)
Sidelines Mode (+55) - EURXDR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid EURXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for EURXDR
The long-term trend has been UP since Mar 24th, 2020 at 0.8044
The intermediate-term trend has been DOWN since Sep 25th, 2020 at 0.8373
The short-term trend has been UP since Oct 19th, 2020 at 0.8302
Smart Scan Analysis for EURXDR
Based on our trend formula, EURXDR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).