Forex Trend Analysis Report
Prepared for you on Thursday, August 22, 2019.
Peruvian Nuevo Sol/Mexican Peso (FOREX:PENMXN)
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 PENMXN
The long term trend has been DOWN since May 22nd, 2019 at 5.67790
The intermediate term trend has been DOWN since Aug 8th, 2019 at 5.74465
The short term trend has been UP since Aug 19th, 2019 at 5.81955
Smart Scan Analysis for PENMXN
Based on a pre-defined weighted trend formula for chart analysis, PENMXN scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).