Forex Trend Analysis Report
Prepared for you on Tuesday, July 16, 2019.
US Dollar/Ethiopian Birr (FOREX:USDETB)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very 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 USDETB
The long term trend has been UP since Aug 10th, 2018 at 27.7585
The intermediate term trend has been DOWN since Jul 16th, 2019 at 28.8575
The short term trend has been DOWN since Jul 16th, 2019 at 28.8575
Smart Scan Analysis for USDETB
Based on a pre-defined weighted trend formula for chart analysis, USDETB scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).