Forex Trend Analysis Report
Prepared for you on Thursday, October 18, 2018.
Mexican Peso/Peruvian Nuevo Sol (FOREX:MXNPEN)
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 MXNPEN
The long term trend has been UP since Aug 7th, 2018 at 0.176735
The intermediate term trend has been DOWN since Oct 10th, 2018 at 0.173430
The short term trend has been DOWN since Oct 18th, 2018 at 0.176430
Smart Scan Analysis for MXNPEN
Based on a pre-defined weighted trend formula for chart analysis, MXNPEN scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).