Forex Trend Analysis Report
Prepared for you on Wednesday, September 19, 2018.
Ugandan Shilling/Norwegian Krone (FOREX:UGXNOK)
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 UGXNOK
The long term trend has been UP since Jul 26th, 2018 at 2.21995
The intermediate term trend has been DOWN since Aug 27th, 2018 at 2.21270
The short term trend has been DOWN since Sep 10th, 2018 at 2.22305
Smart Scan Analysis for UGXNOK
Based on a pre-defined weighted trend formula for chart analysis, UGXNOK scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).