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Forex Trend Analysis Report

Prepared for you on Thursday, March 28, 2024.

US Dollar/Nigerian Naira (FOREX:USDNGN)

Weak Downtrend (-65) - USDNGN is showing signs of a strengthening downtrend. Monitor USDNGN as it may be building momentum to the downside.

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
1370.8914 1370.8914 1370.8914 1370.8914 0.0000
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term up The long-term trend has been UP since Nov 14th, 2023 at 884.5000

intermediate term down The intermediate-term trend has been DOWN since Mar 13th, 2024 at 1493.7300

short term down The short-term trend has been DOWN since Mar 12th, 2024 at 1581.0748

Smart Scan Analysis for USDNGN

Based on our trend formula, USDNGN is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-70
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1370.8914 1370.8914 1370.8914 1370.8914 0.0000
Prev. Close Volume Bid Ask Time
1370.8914 2024-03-28 02:42:06
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