Forex Trend Analysis Report
Prepared for you on Friday, March 5, 2021.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
Crossroads (+60) - NGNZAR 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 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.
MarketClub’s Trade Triangles for NGNZAR
The long-term trend has been DOWN since Jul 27th, 2020 at 0.04216590
The intermediate-term trend has been UP since Mar 4th, 2021 at 0.03985777
The short-term trend has been UP since Mar 3rd, 2021 at 0.03975980
Smart Scan Analysis for NGNZAR
Based on our trend formula, NGNZAR is rated as a +60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).