Forex Trend Analysis Report
Prepared for you on Sunday, March 24, 2019.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis shows that positive longer term is weakening. The market action could signal the start of a major trend change Weak Uptrend 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 XAUUSDO
The long term trend has been UP since Dec 6th, 2018 at 1242.555
The intermediate term trend has been DOWN since Mar 1st, 2019 at 1302.935
The short term trend has been UP since Mar 8th, 2019 at 1290.740
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored +65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).