Forex Trend Analysis Report
Prepared for you on Friday, November 17, 2017.
Nigerian Naira/British Pound (FOREX:NGNGBP)
Smart Scan Chart Analysis shows that positive longer term is weakening. The market action could signal the start of a major trend change Weak Uptrend 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 NGNGBP
The long term trend has been UP since Aug 7th, 2017 at 0.00282
The intermediate term trend has been UP since Oct 5th, 2017 at 0.00214
The short term trend has been DOWN since Nov 6th, 2017 at 0.00214
Smart Scan Analysis for NGNGBP
Based on a pre-defined weighted trend formula for chart analysis, NGNGBP scored +65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).