Forex Trend Analysis Report
Prepared for you on Friday, January 17, 2020.
Peruvian Nuevo Sol/Mexican Peso (FOREX:PENMXN)
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 PENMXN
The long term trend has been DOWN since Oct 15th, 2019 at 5.7097000
The intermediate term trend has been DOWN since Jan 14th, 2020 at 5.6365470
The short term trend has been DOWN since Jan 6th, 2020 at 5.6732685
Smart Scan Analysis for PENMXN
Based on a pre-defined weighted trend formula for chart analysis, PENMXN scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).