Forex Trend Analysis Report
Prepared for you on Wednesday, October 17, 2018.
Namibian Dollar/CFA Franc BCEAO (FOREX:NADXOF)
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 NADXOF
The long term trend has been DOWN since Jun 10th, 2018 at 43.156
The intermediate term trend has been UP since Sep 23rd, 2018 at 38.264
The short term trend has been DOWN since Oct 2nd, 2018 at 39.705
Smart Scan Analysis for NADXOF
Based on a pre-defined weighted trend formula for chart analysis, NADXOF scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).