Forex Trend Analysis Report
Prepared for you on Friday, August 18, 2017.
British Pound/Nigerian Naira (FOREX:GBPNGN)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend 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 GBPNGN
The long term trend has been DOWN since Aug 7th, 2017 at 354.305
The intermediate term trend has been DOWN since Aug 7th, 2017 at 408.720
The short term trend has been DOWN since Aug 15th, 2017 at 473.510
Smart Scan Analysis for GBPNGN
Based on a pre-defined weighted trend formula for chart analysis, GBPNGN scored -80 on a scale from -100 (strong downtrend) to +100 (strong uptrend).