Forex Trend Analysis Report
Prepared for you on Tuesday, July 16, 2019.
US Dollar/Norwegian Krone (FOREX:USDNOK)
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 USDNOK
The long term trend has been UP since May 1st, 2018 at 8.04208
The intermediate term trend has been DOWN since May 27th, 2019 at 8.68266
The short term trend has been UP since Jul 16th, 2019 at 8.55892
Smart Scan Analysis for USDNOK
Based on a pre-defined weighted trend formula for chart analysis, USDNOK scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).