Forex Trend Analysis Report
Prepared for you on Sunday, October 24, 2021.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Strong Downtrend (-100) - NGNUSD is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, SHORTSYMBOL continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid NGNUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for NGNUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for NGNUSD
The long-term trend has been DOWN since Dec 11th, 2020 at 0.00257902
The intermediate-term trend has been DOWN since Sep 12th, 2021 at 0.00242711
The short-term trend has been DOWN since Oct 12th, 2021 at 0.00243066
Smart Scan Analysis for NGNUSD
Based on our trend formula, NGNUSD is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).