Forex Trend Analysis Report
Prepared for you on Sunday, May 26, 2019.
South African Rand/Nigerian Naira (FOREX:ZARNGN)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 DOWN since Feb 22nd, 2019 at 21.7730
The intermediate term trend has been DOWN since Apr 24th, 2019 at 25.0515
The short term trend has been DOWN since May 23rd, 2019 at 24.8395
Smart Scan Analysis for ZARNGN
Based on a pre-defined weighted trend formula for chart analysis, ZARNGN scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).