Forex Trend Analysis Report

Prepared for you on Monday, March 20, 2023.

Nigerian Naira/South African Rand (FOREX:NGNZAR)

Long-Term Uptrend (+90) - NGNZAR is in a strong uptrend that is likely to continue. While NGNZAR is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.

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
0.03996004	0.04039799	0.03986817	0.04019657	+0.00023700
Entry Signal

MarketClub’s Trade Triangles for NGNZAR

The long-term trend has been UP since Mar 7th, 2023 at 0.04047349

The intermediate-term trend has been UP since Feb 6th, 2023 at 0.03826337

The short-term trend has been UP since Mar 15th, 2023 at 0.04015505

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

Strong Downtrend Sideways Strong Uptrend

Open	High	Low	Price	Change
0.03996004	0.04039799	0.03986817	0.04019657	+0.00023700
Prev. Close	Volume	Bid	Ask	Time
0.03996004				2023-03-20 17:21:34

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