Forex Trend Analysis Report
Prepared for you on Monday, August 10, 2020.
Mexican Peso/Canadian Dollar (FOREX:MXNCAD)
Countertrend Down (-85) - MXNCAD is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid MXNCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MXNCAD
The long-term trend has been DOWN since Feb 28th, 2020 at 0.06776202
The intermediate-term trend has been DOWN since Aug 3rd, 2020 at 0.05939950
The short-term trend has been UP since Aug 7th, 2020 at 0.05958850
Smart Scan Analysis for MXNCAD
Based on our trend formula, MXNCAD is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).