Forex Trend Analysis Report
Prepared for you on Saturday, January 18, 2020.
Nigerian Naira/British Pound (FOREX:NGNGBP)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 NGNGBP
The long term trend has been DOWN since Oct 16th, 2019 at 0.00218200
The intermediate term trend has been UP since Dec 24th, 2019 at 0.00213896
The short term trend has been DOWN since Jan 16th, 2020 at 0.00211738
Smart Scan Analysis for NGNGBP
Based on a pre-defined weighted trend formula for chart analysis, NGNGBP scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).