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Forex Trend Analysis Report

Prepared for you on Wednesday, November 29, 2023.

Nigerian Naira/British Pound (FOREX:NGNGBP)

Sidelines Mode (-55) - NGNGBP 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 NGNGBP?

MarketClub looks at technical strength and momentum to determine if the timing is right for NGNGBP.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_NGNGBP
Open High Low NGNGBP Price Change
0.00100142 0.00100441 0.00098967 0.00099214 -0.00000900
Entry Signal

MarketClub’s Trade Triangles for NGNGBP

long term down The long-term trend has been DOWN since Nov 14th, 2023 at 0.00092345

intermediate term down The intermediate-term trend has been DOWN since Nov 14th, 2023 at 0.00092345

short term up The short-term trend has been UP since Nov 27th, 2023 at 0.00099450

Smart Scan Analysis for NGNGBP

Based on our trend formula, NGNGBP is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for NGNGBP
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00100142 0.00100441 0.00098967 0.00099214 -0.00000900
Prev. Close Volume Bid Ask Time
0.00100142 2023-11-29 18:03:09
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