Forex Trend Analysis Report
Prepared for you on Thursday, August 17, 2017.
Ugandan Shilling/Norwegian Krone (FOREX:UGXNOK)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with 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 DOWN since Jul 12th, 2017 at 2.29675
The intermediate term trend has been DOWN since Jun 26th, 2017 at 2.35415
The short term trend has been DOWN since Aug 17th, 2017 at 2.19800
Smart Scan Analysis for UGXNOK
Based on a pre-defined weighted trend formula for chart analysis, UGXNOK scored -80 on a scale from -100 (strong downtrend) to +100 (strong uptrend).