Forex Trend Analysis Report
Prepared for you on Friday, October 20, 2017.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Smart Scan Chart Analysis continues negative longer term. Look for this market to remain weak. 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 NGNUSD
The long term trend has been DOWN since Jun 26th, 2016 at 0.004995
The intermediate term trend has been DOWN since Oct 11th, 2017 at 0.002800
The short term trend has been DOWN since Aug 16th, 2017 at 0.003175
Smart Scan Analysis for NGNUSD
Based on a pre-defined weighted trend formula for chart analysis, NGNUSD scored -90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).