Free Daily Analysis

Forex Trend Analysis Report

Prepared for you on Monday, May 27, 2024.

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, NGNUSD 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.

FOREX_NGNUSD
Open High Low NGNUSD Price Change
0.00067572 0.00067572 0.00067572 0.00067572 0.00000000
Entry Signal

MarketClub’s Trade Triangles for NGNUSD

long term down The long-term trend has been DOWN since Jul 14th, 2022 at 0.00238186

intermediate term down The intermediate-term trend has been DOWN since Apr 24th, 2024 at 0.00074623

short term down The short-term trend has been DOWN since May 15th, 2024 at 0.00067057

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).

-100
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00067572 0.00067572 0.00067572 0.00067572 0.00000000
Prev. Close Volume Bid Ask Time
0.00067572 2024-05-27 21:01:01
Get a free daily analysis and signals for Nigerian Naira/US Dollar (NGNUSD) - Request Your Free Report.