Forex Trend Analysis Report
Prepared for you on Friday, October 18, 2019.
US Dollar/Turkish Lira (FOREX:USDTRY)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend 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 USDTRY
The long term trend has been UP since Aug 25th, 2019 at 6.245880
The intermediate term trend has been UP since Oct 7th, 2019 at 5.748500
The short term trend has been DOWN since Oct 17th, 2019 at 5.865495
Smart Scan Analysis for USDTRY
Based on a pre-defined weighted trend formula for chart analysis, USDTRY scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).