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Forex Trend Analysis Report

Prepared for you on Friday, May 9, 2025.

Nigerian Naira/South African Rand (FOREX:NGNZAR)

Long-Term Downtrend (-90) - NGNZAR is in a strong downtrend that is likely to continue. While NGNZAR is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.

Is it time to buy, sell, or avoid NGNZAR?

MarketClub looks at technical strength and momentum to determine if the timing is right for NGNZAR.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_NGNZAR
Open High Low NGNZAR Price Change
0.01134306 0.01134986 0.01127742 0.01129259 -0.00005000
Entry Signal

MarketClub’s Trade Triangles for NGNZAR

long term down The long-term trend has been DOWN since Apr 21st, 2025 at 0.01165313

intermediate term down The intermediate-term trend has been DOWN since Apr 14th, 2025 at 0.01172387

short term down The short-term trend has been DOWN since May 2nd, 2025 at 0.01150491

Smart Scan Analysis for NGNZAR

Based on our trend formula, NGNZAR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for NGNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.01134306 0.01134986 0.01127742 0.01129259 -0.00005000
Prev. Close Volume Bid Ask Time
0.01134306 2025-05-09 07:24:20
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