Forex Trend Analysis Report
Prepared for you on Thursday, August 22, 2019.
Ugandan Shilling/Norwegian Krone (FOREX:UGXNOK)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend with 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 UGXNOK
The long term trend has been UP since Jul 23rd, 2019 at 2.34415
The intermediate term trend has been UP since Jun 18th, 2019 at 2.33710
The short term trend has been DOWN since Aug 22nd, 2019 at 2.42490
Smart Scan Analysis for UGXNOK
Based on a pre-defined weighted trend formula for chart analysis, UGXNOK scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).