Forex Trend Analysis Report
Prepared for you on Saturday, January 20, 2018.
Nigerian Naira/British Pound (FOREX:NGNGBP)
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 NGNGBP
The long term trend has been DOWN since Jan 2nd, 2018 at 0.00205
The intermediate term trend has been DOWN since Nov 30th, 2017 at 0.00206
The short term trend has been DOWN since Jan 12th, 2018 at 0.00205
Smart Scan Analysis for NGNGBP
Based on a pre-defined weighted trend formula for chart analysis, NGNGBP scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).