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Forex Trend Analysis Report
Prepared for you on Friday, May 9, 2025.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Long-Term Uptrend (+90) - USDNGN is in a strong uptrend that is likely to continue. While USDNGN is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution 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.
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MarketClub’s Trade Triangles for USDNGN
The long-term trend has been UP since Apr 7th, 2025 at 1560.6224
The intermediate-term trend has been UP since Mar 10th, 2025 at 1515.0000
The short-term trend has been UP since May 7th, 2025 at 1607.5000
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1609.25 | 1611.21 | 1609.24 | 1609.64 | +0.39 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1609.25 | 2025-05-09 05:08:31 |