Forex Trend Analysis Report
Prepared for you on Saturday, January 18, 2020.
Special Drawing Right/Canadian Dollar (FOREX:SDRCAD)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend 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 SDRCAD
The long term trend has been DOWN since Jan 1st, 2020 at 1.7949481
The intermediate term trend has been DOWN since Dec 15th, 2019 at 1.8178135
The short term trend has been UP since Jan 8th, 2020 at 1.7980900
Smart Scan Analysis for SDRCAD
Based on a pre-defined weighted trend formula for chart analysis, SDRCAD scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).