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Forex Trend Analysis Report
Prepared for you on Saturday, June 3, 2023.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Strong Uptrend (+100) - USDNGN is in a strong uptrend that is likely to continue. With short-term, intermediate, and long-term bullish momentum, USDNGN continues to climb. Traders should protect gains and look for a change in score to suggest a slow down in 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.
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MarketClub’s Trade Triangles for USDNGN
The long-term trend has been UP since Jun 14th, 2022 at 418.49841
The intermediate-term trend has been UP since May 24th, 2023 at 463.51542
The short-term trend has been UP since May 30th, 2023 at 461.84917
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 461.26 | 461.50 | 461.26 | 461.50 | +0.24 |
| Prev. Close | Volume | Bid | Ask | Time |
| 461.26 | 2023-06-02 14:47:19 |