Forex Trend Analysis Report
Prepared for you on Sunday, February 16, 2020.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 NGNZAR
The long term trend has been DOWN since Jul 15th, 2019 at 0.03850900
The intermediate term trend has been UP since Jan 13th, 2020 at 0.03985835
The short term trend has been DOWN since Feb 11th, 2020 at 0.04110592
Smart Scan Analysis for NGNZAR
Based on a pre-defined weighted trend formula for chart analysis, NGNZAR scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).