Forex Trend Analysis Report
Prepared for you on Wednesday, October 18, 2017.
Ugandan Shilling/Norwegian Krone (FOREX:UGXNOK)
Smart Scan Chart Analysis continues negative longer term. Look for this market to remain weak. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 DOWN since Jul 12th, 2017 at 2.29675
The intermediate term trend has been DOWN since Oct 16th, 2017 at 2.15825
The short term trend has been DOWN since Oct 4th, 2017 at 2.20570
Smart Scan Analysis for UGXNOK
Based on a pre-defined weighted trend formula for chart analysis, UGXNOK scored -90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).