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Forex Trend Analysis Report
Prepared for you on Monday, January 20, 2025.
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.
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MarketClub’s Trade Triangles for USDNGN
The long-term trend has been DOWN since Dec 6th, 2024 at 1589.1100
The intermediate-term trend has been UP since Jan 12th, 2025 at 1551.5609
The short-term trend has been UP since Jan 12th, 2025 at 1551.4700
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 |
|---|---|---|---|---|
| 1559.52 | 1559.52 | 1555.66 | 1555.85 | -3.67 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1559.52 | 2025-01-20 08:32:37 |