Forex Trend Analysis Report
Prepared for you on Tuesday, January 15, 2019.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
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 NGNZAR
The long term trend has been DOWN since Dec 3rd, 2018 at 0.037380
The intermediate term trend has been DOWN since Jan 4th, 2019 at 0.038601
The short term trend has been DOWN since Jan 15th, 2019 at 0.037725
Smart Scan Analysis for NGNZAR
Based on a pre-defined weighted trend formula for chart analysis, NGNZAR scored -90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).