Forex Trend Analysis Report
Prepared for you on Wednesday, May 23, 2018.
British Pound/Norwegian Krone (FOREX:GBPNOK)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 GBPNOK
The long term trend has been DOWN since Mar 1st, 2018 at 10.82235
The intermediate term trend has been DOWN since May 3rd, 2018 at 10.93700
The short term trend has been DOWN since May 21st, 2018 at 10.90550
Smart Scan Analysis for GBPNOK
Based on a pre-defined weighted trend formula for chart analysis, GBPNOK scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).