Forex Trend Analysis Report
Prepared for you on Saturday, January 28, 2023.
US Dollar/Colombian Peso (FOREX:USDCOP)
Sidelines Mode (-55) - USDCOP 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 USDCOP?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCOP.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDCOP
The long-term trend has been UP since Oct 6th, 2022 at 4642.580
The intermediate-term trend has been DOWN since Jan 12th, 2023 at 4728.500
The short-term trend has been UP since Jan 27th, 2023 at 4564.924
Smart Scan Analysis for USDCOP
Based on our trend formula, USDCOP is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).