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Forex Trend Analysis Report

Prepared for you on Tuesday, June 18, 2024.

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.

FOREX_USDNGN
Open High Low USDNGN Price Change
1490.00 1490.51 1483.82 1490.50 +0.50
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 up The intermediate-term trend has been UP since Jun 16th, 2024 at 1518.8049

short term up The short-term trend has been UP since Jun 16th, 2024 at 1505.0100

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).

+100
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1490.00 1490.51 1483.82 1490.50 +0.50
Prev. Close Volume Bid Ask Time
1490.00 2024-06-18 16:50:12
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