Forex Trend Analysis Report
Prepared for you on Monday, October 14, 2019.
Brazilian Real/Norwegian Krone (FOREX:BRLNOK)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management 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 BRLNOK
The long term trend has been DOWN since Sep 20th, 2019 at 2.15385
The intermediate term trend has been DOWN since Aug 5th, 2019 at 2.27170
The short term trend has been UP since Sep 26th, 2019 at 2.19710
Smart Scan Analysis for BRLNOK
Based on a pre-defined weighted trend formula for chart analysis, BRLNOK scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).