Forex Trend Analysis Report
Prepared for you on Monday, June 24, 2019.
Nigerian Naira/Danish Krone (FOREX:NGNDKK)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very 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 NGNDKK
The long term trend has been UP since Feb 12th, 2019 at 0.01830
The intermediate term trend has been DOWN since Jun 10th, 2019 at 0.01835
The short term trend has been DOWN since Jun 20th, 2019 at 0.01845
Smart Scan Analysis for NGNDKK
Based on a pre-defined weighted trend formula for chart analysis, NGNDKK scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).