Forex Trend Analysis Report
Prepared for you on Monday, August 15, 2022.
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.
MarketClub’s Trade Triangles for USDCAD
The long-term trend has been UP since May 2nd, 2022 at 1.29005
The intermediate-term trend has been DOWN since Jul 25th, 2022 at 1.28276
The short-term trend has been UP since Aug 15th, 2022 at 1.28285
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).