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Forex Trend Analysis Report
Prepared for you on Saturday, May 4, 2024.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Strong Uptrend (+100) - USDNGN is in a strong uptrend that is likely to continue. With short-term, intermediate, and long-term bullish momentum, USDNGN continues to climb. Traders should protect gains and look for a change in score to suggest a slow down in momentum.
Is it time to buy, sell, or avoid USDNGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDNGN.
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 USDNGN
The long-term trend has been UP since Nov 14th, 2023 at 884.50
The intermediate-term trend has been UP since Apr 28th, 2024 at 1296.16
The short-term trend has been UP since Apr 23rd, 2024 at 1236.00
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1380.00 | 1409.42 | 1379.99 | 1382.50 | +2.50 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1380.00 | 2024-05-03 16:27:16 |