Forex Trend Analysis Report
Prepared for you on Friday, October 20, 2017.
British Pound/Peruvian Nuevo Sol (FOREX:GBPPEN)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 GBPPEN
The long term trend has been UP since Sep 12th, 2017 at 4.2928
The intermediate term trend has been DOWN since Oct 8th, 2017 at 4.2524
The short term trend has been DOWN since Oct 17th, 2017 at 4.2973
Smart Scan Analysis for GBPPEN
Based on a pre-defined weighted trend formula for chart analysis, GBPPEN scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).