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.
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 Feb 9th, 2021 at 0.00251741
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).