Forex Trend Analysis Report
Prepared for you on Wednesday, October 18, 2017.
British Pound/Nigerian Naira (FOREX:GBPNGN)
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 GBPNGN
The long term trend has been UP since Sep 15th, 2017 at 484.920
The intermediate term trend has been DOWN since Oct 5th, 2017 at 467.650
The short term trend has been DOWN since Oct 17th, 2017 at 471.855
Smart Scan Analysis for GBPNGN
Based on a pre-defined weighted trend formula for chart analysis, GBPNGN scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).