Forex Trend Analysis Report
Prepared for you on Wednesday, July 17, 2019.
British Pound/Myanmar Kyat (FOREX:GBPMMK)
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 GBPMMK
The long term trend has been DOWN since Dec 4th, 2018 at 1972.4
The intermediate term trend has been DOWN since May 22nd, 2019 at 1966.7
The short term trend has been DOWN since Jun 17th, 2019 at 1930.1
Smart Scan Analysis for GBPMMK
Based on a pre-defined weighted trend formula for chart analysis, GBPMMK scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).