Forex Trend Analysis Report
Prepared for you on Wednesday, May 22, 2019.
Ugandan Shilling/Norwegian Krone (FOREX:UGXNOK)
Smart Scan Chart Analysis shows the current uptrend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Uptrend with very tight 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 DOWN since Apr 11th, 2019 at 2.25955
The intermediate term trend has been UP since Apr 25th, 2019 at 2.31970
The short term trend has been UP since May 17th, 2019 at 2.32245
Smart Scan Analysis for UGXNOK
Based on a pre-defined weighted trend formula for chart analysis, UGXNOK scored +60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).