Forex Trend Analysis Report
Prepared for you on Thursday, October 21, 2021.
Euro/Nigerian Naira (FOREX:EURNGN)
Countertrend Down (-85) - EURNGN is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
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 DOWN since Aug 9th, 2021 at 484.59
The intermediate-term trend has been DOWN since Oct 1st, 2021 at 483.36
The short-term trend has been UP since Oct 12th, 2021 at 476.64
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).