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Forex Trend Analysis Report

Prepared for you on Friday, June 21, 2024.

Nigerian Naira/British Pound (FOREX:NGNGBP)

Bear Market Rally (-75) - NGNGBP is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on NGNGBP as it may be in the beginning of a reversal.

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
0.00053047 0.00053457 0.00052137 0.00053122 +0.00000100
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 Jun 19th, 2024 at 0.00051684

short term up The short-term trend has been UP since Jun 20th, 2024 at 0.00053243

Smart Scan Analysis for NGNGBP

Based on our trend formula, NGNGBP is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-75
Smart Scan Analysis for NGNGBP
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00053047 0.00053457 0.00052137 0.00053122 +0.00000100
Prev. Close Volume Bid Ask Time
0.00053047 2024-06-21 21:08:11
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