Forex Trend Analysis Report
Prepared for you on Monday, May 20, 2019.
US Dollar/Egyptian Pound (FOREX:USDEGP)
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.
MarketClub’s Trade Triangles for USDEGP
The long term trend has been DOWN since Jan 28th, 2019 at 17.7265
The intermediate term trend has been DOWN since Jan 27th, 2019 at 17.8275
The short term trend has been UP since May 7th, 2019 at 17.2425
Smart Scan Analysis for USDEGP
Based on a pre-defined weighted trend formula for chart analysis, USDEGP scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).