Forex Trend Analysis Report
Prepared for you on Monday, August 19, 2019.
Euro/British Penny Sterling (FOREX:EURGBX)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend 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 EURGBX
The long term trend has been UP since May 24th, 2019 at 88.405
The intermediate term trend has been UP since Jul 29th, 2019 at 90.515
The short term trend has been DOWN since Aug 15th, 2019 at 92.290
Smart Scan Analysis for EURGBX
Based on a pre-defined weighted trend formula for chart analysis, EURGBX scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).