Forex Trend Analysis Report
Prepared for you on Saturday, March 6, 2021.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Countertrend Up (+85) - USDNGN is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid USDNGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDNGN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDNGN
The long-term trend has been UP since Dec 15th, 2020 at 388.59642
The intermediate-term trend has been UP since Feb 10th, 2021 at 397.22723
The short-term trend has been DOWN since Mar 3rd, 2021 at 380.50000
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).