Forex Trend Analysis Report
Prepared for you on Wednesday, February 20, 2019.
South African Rand/Nigerian Naira (FOREX:ZARNGN)
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 ZARNGN
The long term trend has been UP since Dec 3rd, 2018 at 26.7515
The intermediate term trend has been DOWN since Feb 13th, 2019 at 25.9375
The short term trend has been DOWN since Feb 20th, 2019 at 25.5185
Smart Scan Analysis for ZARNGN
Based on a pre-defined weighted trend formula for chart analysis, ZARNGN scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).