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Forex Trend Analysis Report

Prepared for you on Tuesday, August 9, 2022.

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
417.97 417.97 417.97 417.97 0.00
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term up The long-term trend has been UP since Jun 14th, 2022 at 418.49841

intermediate term down The intermediate-term trend has been DOWN since Aug 8th, 2022 at 415.21000

short term down The short-term trend has been DOWN since Aug 8th, 2022 at 416.68000

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
417.97 417.97 417.97 417.97 0.00
Prev. Close Volume Bid Ask Time
417.97 2022-08-09 09:19:01
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