Forex Trend Analysis Report

Prepared for you on Thursday, December 7, 2023.

Nigerian Naira/South African Rand (FOREX:NGNZAR)

Bear Market Rally (-75) - NGNZAR is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on NGNZAR as it may be in the beginning of a reversal.

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.

Open	High	Low	NGNZAR Price	Change
0.02365313	0.02365928	0.02331363	0.02333752	-0.00031600
Entry Signal

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 DOWN since Nov 14th, 2023 at 0.02139191

The short-term trend has been DOWN since Dec 4th, 2023 at 0.02352839

Smart Scan Analysis for NGNZAR

Based on our trend formula, NGNZAR is rated as a -80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-80

Strong Downtrend Sideways Strong Uptrend

Open	High	Low	Price	Change
0.02365313	0.02365928	0.02331363	0.02333752	-0.00031600
Prev. Close	Volume	Bid	Ask	Time
0.02365313				2023-12-07 14:07:44

Get a free daily analysis and signals for Nigerian Naira/South African Rand (NGNZAR) - Request Your Free Report.