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.
MarketClub’s Trade Triangles for NGNUSD
The long-term trend has been DOWN since Jul 21st, 2019 at 0.00276000
The intermediate-term trend has been UP since May 17th, 2020 at 0.00258931
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).