Forex Trend Analysis Report
Prepared for you on Monday, May 22, 2017.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Smart Scan Chart Analysis indicates that the upward trend for this market is at a crossroads and has possibly ended. Look for choppy trading conditions in the near term Trading Range Mode.
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 UP since May 20th, 2017 at 0.003170
The short term trend has been UP since May 20th, 2017 at 0.003170
Smart Scan Analysis for NGNUSD
Based on a pre-defined weighted trend formula for chart analysis, NGNUSD scored +50 on a scale from -100 (strong downtrend) to +100 (strong uptrend).