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Forex Trend Analysis Report

Prepared for you on Friday, February 26, 2021.

Nigerian Naira/US Dollar (FOREX:NGNUSD)

Long-Term Downtrend (-90) - NGNUSD is in a strong downtrend that is likely to continue. While NGNUSD is showing intraday strength, it remains in the confines of a bearish trend. 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.

FOREX_NGNUSD
Open High Low NGNUSD Price Change
0.00242931 0.00242931 0.00242931 0.00242931 0.00000000
Entry Signal

MarketClub’s Trade Triangles for NGNUSD

long term down The long-term trend has been DOWN since Dec 11th, 2020 at 0.00257902

intermediate term down The intermediate-term trend has been DOWN since Feb 9th, 2021 at 0.00251741

short term down The short-term trend has been DOWN since Feb 9th, 2021 at 0.00252681

Smart Scan Analysis for NGNUSD

Based on our trend formula, NGNUSD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00242931 0.00242931 0.00242931 0.00242931 0.00000000
Prev. Close Volume Bid Ask Time
0.00242946 2021-02-24 07:23:16
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