Forex Trend Analysis Report
Prepared for you on Saturday, January 18, 2020.
South African Rand/Nigerian Naira (FOREX:ZARNGN)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 Jul 15th, 2019 at 25.967500
The intermediate term trend has been DOWN since Jan 13th, 2020 at 25.086768
The short term trend has been UP since Jan 7th, 2020 at 25.568351
Smart Scan Analysis for ZARNGN
Based on a pre-defined weighted trend formula for chart analysis, ZARNGN scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).