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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Euro/Nigerian Naira (FOREX:EURNGN)
Countertrend Up (+85) - EURNGN is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid EURNGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURNGN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for EURNGN
The long-term trend has been UP since Nov 6th, 2023 at 855.3
The intermediate-term trend has been UP since Apr 24th, 2024 at 1439.9
The short-term trend has been DOWN since May 7th, 2024 at 1514.8
Smart Scan Analysis for EURNGN
Based on our trend formula, EURNGN is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1487.39 | 1487.39 | 1487.39 | 1487.39 | 0.00 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1511.22 | 2024-05-07 21:05:10 |