Forex Trend Analysis Report
Prepared for you on Tuesday, October 17, 2017.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
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 NGNJPY
The long term trend has been DOWN since Aug 9th, 2017 at 0.300395
The intermediate term trend has been DOWN since Oct 16th, 2017 at 0.310055
The short term trend has been DOWN since Oct 10th, 2017 at 0.312355
Smart Scan Analysis for NGNJPY
Based on a pre-defined weighted trend formula for chart analysis, NGNJPY scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).