Forex Trend Analysis Report
Prepared for you on Thursday, November 15, 2018.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 UP since Mar 27th, 2018 at 0.038350
The intermediate term trend has been DOWN since Nov 7th, 2018 at 0.038760
The short term trend has been DOWN since Nov 14th, 2018 at 0.039191
Smart Scan Analysis for NGNZAR
Based on a pre-defined weighted trend formula for chart analysis, NGNZAR scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).