Free Daily Analysis

Forex Trend Analysis Report

Prepared for you on Wednesday, May 29, 2024.

US Dollar/Canadian Dollar (FOREX:USDCAD)

Sidelines Mode (-55) - USDCAD 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 USDCAD?

MarketClub looks at technical strength and momentum to determine if the timing is right for USDCAD.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_USDCAD
Open High Low USDCAD Price Change
1.366395 1.367450 1.366150 1.366325 -0.000070
Entry Signal

MarketClub’s Trade Triangles for USDCAD

long term up The long-term trend has been UP since Apr 5th, 2024 at 1.361450

intermediate term down The intermediate-term trend has been DOWN since May 15th, 2024 at 1.361035

short term up The short-term trend has been UP since May 29th, 2024 at 1.367350

Smart Scan Analysis for USDCAD

Based on our trend formula, USDCAD is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for USDCAD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.366395 1.367450 1.366150 1.366325 -0.000070
Prev. Close Volume Bid Ask Time
1.366395 2024-05-29 02:18:41
Get a free daily analysis and signals for US Dollar/Canadian Dollar (USDCAD) - Request Your Free Report.