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.
MarketClub’s Trade Triangles for NGNUSD
The long-term trend has been DOWN since Jul 14th, 2022 at 0.00238186
The intermediate-term trend has been UP since Aug 7th, 2022 at 0.00234907
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).