Forex Trend Analysis Report
Prepared for you on Thursday, January 17, 2019.
Bulgarian Lev/US Dollar (FOREX:BGNUSD)
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 BGNUSD
The long term trend has been DOWN since May 1st, 2018 at 0.616740
The intermediate term trend has been UP since Dec 19th, 2018 at 0.584310
The short term trend has been DOWN since Jan 14th, 2019 at 0.586115
Smart Scan Analysis for BGNUSD
Based on a pre-defined weighted trend formula for chart analysis, BGNUSD scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).