Forex Trend Analysis Report
Prepared for you on Tuesday, May 21, 2019.
/US Dollar (FOREX:MGAUSD)
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 MGAUSD
The long term trend has been DOWN since Oct 11th, 2017 at 0.000335
The intermediate term trend has been DOWN since Mar 21st, 2019 at 0.000282
The short term trend has been UP since Apr 14th, 2019 at 0.000274
Smart Scan Analysis for MGAUSD
Based on a pre-defined weighted trend formula for chart analysis, MGAUSD scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).