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Forex Trend Analysis Report

Prepared for you on Saturday, May 30, 2020.

Nigerian Naira/US Dollar (FOREX:NGNUSD)

Weak Downtrend (-65) - NGNUSD is showing signs of a strengthening downtrend. Monitor NGNUSD as it may be building momentum to the downside.

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
0.00256325 0.00256325 0.00256325 0.00256325 0.00000000
Entry Signal

MarketClub’s Trade Triangles for NGNUSD

long term down The long-term trend has been DOWN since Jul 21st, 2019 at 0.00276000

intermediate term up The intermediate-term trend has been UP since May 17th, 2020 at 0.00258931

short term down The short-term trend has been DOWN since May 19th, 2020 at 0.00258801

Smart Scan Analysis for NGNUSD

Based on our trend formula, NGNUSD is rated as a -65 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-65
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00256325 0.00256325 0.00256325 0.00256325 0.00000000
Prev. Close Volume Bid Ask Time
0.00258701 0.00254519 0.00258132 2020-05-25 21:04:35
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