Forex Trend Analysis Report
Prepared for you on Saturday, August 19, 2017.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
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 Jun 23rd, 2017 at 0.003170
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 -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).