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Forex Trend Analysis Report
Prepared for you on Wednesday, November 20, 2024.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
Sidelines Mode (+55) - NGNZAR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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.
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MarketClub’s Trade Triangles for NGNZAR
The long-term trend has been DOWN since Oct 23rd, 2023 at 0.02169296
The intermediate-term trend has been UP since Nov 12th, 2024 at 0.01087482
The short-term trend has been DOWN since Nov 18th, 2024 at 0.01080601
Smart Scan Analysis for NGNZAR
Based on our trend formula, NGNZAR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 0.01078024 | 0.01082884 | 0.01076289 | 0.01081207 | +0.00003200 |
| Prev. Close | Volume | Bid | Ask | Time |
| 0.01078024 | 2024-11-20 03:35:37 |