Forex Trend Analysis Report
Prepared for you on Wednesday, April 25, 2018.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
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 NGNUSD
The long term trend has been DOWN since Jun 26th, 2016 at 0.004995
The intermediate term trend has been DOWN since Apr 1st, 2018 at 0.002790
The short term trend has been DOWN since Apr 1st, 2018 at 0.002785
Smart Scan Analysis for NGNUSD
Based on a pre-defined weighted trend formula for chart analysis, NGNUSD scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).