Forex Trend Analysis Report
Prepared for you on Monday, March 1, 2021.
Gold Spot (FOREX:XAUUSDO)
Long-Term Downtrend (-90) - XAUUSDO is in a strong downtrend that is likely to continue. While XAUUSDO is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid XAUUSDO?
MarketClub looks at technical strength and momentum to determine if the timing is right for XAUUSDO.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XAUUSDO
The long-term trend has been DOWN since Nov 23rd, 2020 at 1849.065
The intermediate-term trend has been DOWN since Jan 10th, 2021 at 1829.550
The short-term trend has been DOWN since Feb 25th, 2021 at 1783.500
Smart Scan Analysis for XAUUSDO
Based on our trend formula, XAUUSDO is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).