Forex Trend Analysis Report
Prepared for you on Wednesday, January 22, 2020.
Turkish Lira/Mexican Peso (FOREX:TRYMXN)
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 TRYMXN
The long term trend has been DOWN since Dec 17th, 2019 at 3.2338
The intermediate term trend has been DOWN since Dec 8th, 2019 at 3.3321
The short term trend has been DOWN since Jan 17th, 2020 at 3.1932
Smart Scan Analysis for TRYMXN
Based on a pre-defined weighted trend formula for chart analysis, TRYMXN scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).