Forex Trend Analysis Report
Prepared for you on Friday, October 20, 2017.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
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 NGNZAR
The long term trend has been DOWN since Aug 8th, 2017 at 0.036065
The intermediate term trend has been DOWN since Oct 16th, 2017 at 0.036885
The short term trend has been UP since Oct 18th, 2017 at 0.037760
Smart Scan Analysis for NGNZAR
Based on a pre-defined weighted trend formula for chart analysis, NGNZAR scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).