Forex Trend Analysis Report
Prepared for you on Tuesday, May 21, 2019.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very 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 XAUUSDO
The long term trend has been DOWN since Apr 16th, 2019 at 1277.030
The intermediate term trend has been UP since May 13th, 2019 at 1290.760
The short term trend has been DOWN since May 16th, 2019 at 1282.395
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).