Free Daily Analysis

Forex Trend Analysis Report

Prepared for you on Friday, August 12, 2022.

Nigerian Naira/US Dollar (FOREX:NGNUSD)

Crossroads (-60) - NGNUSD is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.

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
0.00239415 0.00239415 0.00239415 0.00239415 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 up The intermediate-term trend has been UP since Aug 7th, 2022 at 0.00234907

short term up The short-term trend has been UP since Aug 7th, 2022 at 0.00234907

Smart Scan Analysis for NGNUSD

Based on our trend formula, NGNUSD is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-60
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00239415 0.00239415 0.00239415 0.00239415 0.00000000
Prev. Close Volume Bid Ask Time
0.00239415 2022-08-10 07:20:30
Get a free daily analysis and signals for Nigerian Naira/US Dollar (NGNUSD) - Request Your Free Report.