Forex Trend Analysis Report
Prepared for you on Wednesday, October 16, 2019.
US Dollar/Malawian Kwacha (FOREX:USDMWK)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend 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 USDMWK
The long term trend has been DOWN since Sep 20th, 2019 at 720.00
The intermediate term trend has been UP since Sep 25th, 2019 at 738.71
The short term trend has been DOWN since Oct 16th, 2019 at 730.49
Smart Scan Analysis for USDMWK
Based on a pre-defined weighted trend formula for chart analysis, USDMWK scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).