Forex Trend Analysis Report
Prepared for you on Tuesday, March 2, 2021.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Countertrend Down (-85) - USDCAD is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid USDCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDCAD
The long-term trend has been DOWN since Aug 4th, 2020 at 1.331655
The intermediate-term trend has been DOWN since Feb 15th, 2021 at 1.265950
The short-term trend has been UP since Feb 26th, 2021 at 1.264785
Smart Scan Analysis for USDCAD
Based on our trend formula, USDCAD is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).