Forex Trend Analysis Report
Prepared for you on Sunday, July 21, 2019.
US Dollar/Canadian Dollar (FOREX:USDCAD)
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 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 19th, 2019 at 1.30935
Smart Scan Analysis for USDCAD
Based on a pre-defined weighted trend formula for chart analysis, USDCAD scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).