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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.

FOREX_USDNGN
Open High Low USDNGN Price Change
411.55 411.56 411.55 411.56 +0.01
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 up The intermediate-term trend has been UP since Feb 10th, 2021 at 397.22723

short term down 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).

+85
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
411.55 411.56 411.55 411.56 +0.01
Prev. Close Volume Bid Ask Time
411.55 2021-03-05 08:37:02
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