Forex Trend Analysis Report
Prepared for you on Wednesday, May 12, 2021.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Strong Downtrend (-100) - USDCAD is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, SHORTSYMBOL continues to fall. Traders should use caution and set stops.
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.
MarketClub’s Trade Triangles for USDCAD
The long-term trend has been DOWN since Aug 4th, 2020 at 1.331655
The intermediate-term trend has been DOWN since Feb 15th, 2021 at 1.265950
The short-term trend has been DOWN since Apr 14th, 2021 at 1.252650
Smart Scan Analysis for USDCAD
Based on our trend formula, USDCAD is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).