Forex Trend Analysis Report
Prepared for you on Saturday, February 23, 2019.
Bulgarian Lev/Chinese Renminbi Yuan (FOREX:BGNCNY)
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 BGNCNY
The long term trend has been DOWN since Dec 3rd, 2018 at 3.99175
The intermediate term trend has been DOWN since Jan 2nd, 2019 at 3.97795
The short term trend has been DOWN since Feb 20th, 2019 at 3.89750
Smart Scan Analysis for BGNCNY
Based on a pre-defined weighted trend formula for chart analysis, BGNCNY scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).