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Forex Trend Analysis Report

Prepared for you on Saturday, October 23, 2021.

US Dollar/Nigerian Naira (FOREX:USDNGN)

Sidelines Mode (-50) - USDNGN is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until USDNGN can gain momentum.

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.

FOREX_USDNGN
Open High Low USDNGN Price Change
411.29659 411.30000 410.91000 410.91000 -0.38659
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term up The long-term trend has been UP since Dec 15th, 2020 at 388.59642

intermediate term down The intermediate-term trend has been DOWN since Sep 28th, 2021 at 409.29760

short term down The short-term trend has been DOWN since Oct 21st, 2021 at 410.82000

Smart Scan Analysis for USDNGN

Based on our trend formula, USDNGN is rated as a -50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-50
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
411.29659 411.30000 410.91000 410.91000 -0.38659
Prev. Close Volume Bid Ask Time
411.29659 2021-10-22 10:07:08
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