Forex Trend Analysis Report
Prepared for you on Sunday, September 24, 2023.
Gold Spot (FOREX:XAUUSDO)
Bear Market Rally (-75) - XAUUSDO is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on XAUUSDO as it may be in the beginning of a reversal.
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 Aug 16th, 2023 at 1893.655
The intermediate-term trend has been UP since Aug 30th, 2023 at 1944.650
The short-term trend has been DOWN since Sep 21st, 2023 at 1923.015
Smart Scan Analysis for XAUUSDO
Based on our trend formula, XAUUSDO is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).