Forex Trend Analysis Report
Prepared for you on Sunday, January 20, 2019.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 USDNGN
The long term trend has been UP since Jul 26th, 2018 at 362.915
The intermediate term trend has been UP since Jan 9th, 2019 at 364.990
The short term trend has been UP since Jan 20th, 2019 at 363.500
Smart Scan Analysis for USDNGN
Based on a pre-defined weighted trend formula for chart analysis, USDNGN scored +80 on a scale from -100 (strong downtrend) to +100 (strong uptrend).