Forex Trend Analysis Report
Prepared for you on Sunday, February 16, 2020.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Smart Scan Chart Analysis continues positive longer term. Look for this market to remain firm. Strong Uptrend 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 USDNGN
The long term trend has been UP since Jul 31st, 2019 at 362.73000
The intermediate term trend has been UP since Feb 4th, 2020 at 363.71049
The short term trend has been UP since Jan 27th, 2020 at 362.89630
Smart Scan Analysis for USDNGN
Based on a pre-defined weighted trend formula for chart analysis, USDNGN scored +90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).