Forex Trend Analysis Report
Prepared for you on Monday, November 18, 2019.
Euro/Somali Shilling (FOREX:EURSOS)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight 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 EURSOS
The long term trend has been DOWN since May 1st, 2018 at 705.9
The intermediate term trend has been DOWN since Nov 7th, 2019 at 641.1
The short term trend has been UP since Nov 17th, 2019 at 638.0
Smart Scan Analysis for EURSOS
Based on a pre-defined weighted trend formula for chart analysis, EURSOS scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).