Forex Trend Analysis Report
Prepared for you on Tuesday, October 16, 2018.
Bulgarian Lev/Chinese Renminbi Yuan (FOREX:BGNCNY)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend with 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 BGNCNY
The long term trend has been UP since Jul 2nd, 2018 at 3.98180
The intermediate term trend has been DOWN since Oct 2nd, 2018 at 4.04295
The short term trend has been UP since Oct 8th, 2018 at 4.05230
Smart Scan Analysis for BGNCNY
Based on a pre-defined weighted trend formula for chart analysis, BGNCNY scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).