Forex Trend Analysis Report
Prepared for you on Friday, May 24, 2019.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 1277.03
The intermediate term trend has been UP since May 13th, 2019 at 1290.76
The short term trend has been UP since May 23rd, 2019 at 1278.99
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).