Forex Trend Analysis Report
Prepared for you on Saturday, November 18, 2017.
/British Pound (FOREX:RONGBP)
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 RONGBP
The long term trend has been DOWN since Nov 1st, 2017 at 0.190170
The intermediate term trend has been DOWN since Sep 11th, 2017 at 0.198040
The short term trend has been UP since Nov 13th, 2017 at 0.191535
Smart Scan Analysis for RONGBP
Based on a pre-defined weighted trend formula for chart analysis, RONGBP scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).