Free Daily Analysis

Forex Trend Analysis Report

Prepared for you on Tuesday, June 2, 2020.

US Dollar/Nigerian Naira (FOREX:USDNGN)

Strong Downtrend (-100) - USDNGN is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, SHORTSYMBOL continues to fall. Traders should use caution and set stops.

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
361.25 361.25 361.25 361.25 0.00
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term down The long-term trend has been DOWN since May 12th, 2020 at 209.00

intermediate term down The intermediate-term trend has been DOWN since May 12th, 2020 at 360.50

short term down The short-term trend has been DOWN since May 26th, 2020 at 390.01

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
361.25 361.25 361.25 361.25 0.00
Prev. Close Volume Bid Ask Time
361.25 360.75 361.75 2020-06-02 03:57:32
Get a free daily analysis and signals for US Dollar/Nigerian Naira (USDNGN) - Request Your Free Report.