Free Daily Analysis
Forex Trend Analysis Report
Prepared for you on Thursday, December 5, 2024.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Crossroads (-60) - USDNGN 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 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 Nov 14th, 2023 at 884.50
The intermediate-term trend has been DOWN since Dec 4th, 2024 at 1635.00
The short-term trend has been DOWN since Nov 29th, 2024 at 1682.89
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1618.75 | 1628.06 | 1606.40 | 1611.10 | -7.65 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1618.75 | 2024-12-05 23:14:42 |