Forex Trend Analysis Report
Prepared for you on Wednesday, July 17, 2019.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight 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 USDCAD
The long term trend has been DOWN since Jun 26th, 2019 at 1.31305
The intermediate term trend has been DOWN since Jun 6th, 2019 at 1.33585
The short term trend has been UP since Jul 16th, 2019 at 1.30605
Smart Scan Analysis for USDCAD
Based on a pre-defined weighted trend formula for chart analysis, USDCAD scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).