Forex Trend Analysis Report
Prepared for you on Monday, December 9, 2019.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis indicates a counter trend rally is underway The current up-trend could be changing and moving into a trading range Sidelines Mode.
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 XAUUSDO
The long term trend has been UP since Jun 3rd, 2019 at 1324.05
The intermediate term trend has been UP since Dec 3rd, 2019 at 1475.70
The short term trend has been DOWN since Dec 5th, 2019 at 1454.05
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored +55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).