Forex Trend Analysis Report
Prepared for you on Wednesday, November 29, 2023.
Euro/Nigerian Naira (FOREX:EURNGN)
Sidelines Mode (+55) - EURNGN is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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 Nov 6th, 2023 at 855.3
The intermediate-term trend has been UP since Oct 29th, 2023 at 817.7
The short-term trend has been DOWN since Nov 23rd, 2023 at 899.0
Smart Scan Analysis for EURNGN
Based on our trend formula, EURNGN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).