Forex Trend Analysis Report
Prepared for you on Saturday, February 23, 2019.
US Dollar/Canadian Dollar (FOREX:USDCAD)
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 USDCAD
The long term trend has been UP since Nov 9th, 2018 at 1.322130
The intermediate term trend has been DOWN since Jan 6th, 2019 at 1.337315
The short term trend has been DOWN since Feb 19th, 2019 at 1.322550
Smart Scan Analysis for USDCAD
Based on a pre-defined weighted trend formula for chart analysis, USDCAD scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).