Forex Trend Analysis Report
Prepared for you on Wednesday, January 29, 2020.
Euro/Mexican Peso (FOREX:EURMXN)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. 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 EURMXN
The long term trend has been DOWN since Nov 8th, 2019 at 21.078450
The intermediate term trend has been DOWN since Dec 12th, 2019 at 21.195500
The short term trend has been DOWN since Jan 28th, 2020 at 20.684875
Smart Scan Analysis for EURMXN
Based on a pre-defined weighted trend formula for chart analysis, EURMXN scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).