Forex Trend Analysis Report
Prepared for you on Monday, May 25, 2020.
Euro/Nigerian Naira (FOREX:EURNGN)
Bull Market Weakness (+75) - EURNGN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on EURNGN as it may be in the beginning stages of a reversal.
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.
MarketClub’s Trade Triangles for EURNGN
The long-term trend has been UP since Mar 5th, 2020 at 408.97
The intermediate-term trend has been UP since May 3rd, 2020 at 418.81
The short-term trend has been UP since May 19th, 2020 at 417.69
Smart Scan Analysis for EURNGN
Based on our trend formula, EURNGN is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).