Forex Trend Analysis Report
Prepared for you on Thursday, December 12, 2019.
Bulgarian Lev/US Dollar (FOREX:BGNUSD)
Smart Scan Chart Analysis shows the current uptrend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Uptrend with very tight stops.
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 BGNUSD
The long term trend has been DOWN since May 1st, 2018 at 0.61674000
The intermediate term trend has been UP since Dec 2nd, 2019 at 0.56662728
The short term trend has been UP since Dec 12th, 2019 at 0.56734997
Smart Scan Analysis for BGNUSD
Based on a pre-defined weighted trend formula for chart analysis, BGNUSD scored +60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).