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Forex Trend Analysis Report

Prepared for you on Wednesday, October 16, 2019.

Nigerian Naira/South African Rand (FOREX:NGNZAR)

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.

FOREX_NGNZAR
Open High Low NGNZAR Price Change
0.041042 0.041645 0.041042 0.041362 +0.000320
Entry Signal

MarketClub’s Trade Triangles for NGNZAR

long term down The long term trend has been DOWN since Jul 15th, 2019 at 0.038509

intermediate term down The intermediate term trend has been DOWN since Oct 13th, 2019 at 0.040935

short term up The short term trend has been UP since Oct 16th, 2019 at 0.041273

Smart Scan Analysis for NGNZAR

Based on a pre-defined weighted trend formula for chart analysis, NGNZAR scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).

-85
Smart Scan Analysis for NGNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.041042 0.041645 0.041042 0.041362 +0.000320
Prev. Close Volume Bid Ask Time
0.041042 0.041350 0.041374 2019-10-16 21:02:17
Want to analyze Nigerian Naira/South African Rand NGNZAR or another symbol? Try our Free Forex Trend Analysis Report.