Forex Trend Analysis Report
Prepared for you on Friday, November 16, 2018.
/British Pound (FOREX:RONGBP)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines 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 RONGBP
The long term trend has been DOWN since Oct 5th, 2018 at 0.188720
The intermediate term trend has been DOWN since Nov 5th, 2018 at 0.187515
The short term trend has been UP since Nov 15th, 2018 at 0.188285
Smart Scan Analysis for RONGBP
Based on a pre-defined weighted trend formula for chart analysis, RONGBP scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).