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Forex Trend Analysis Report
Prepared for you on Friday, July 26, 2024.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Countertrend Up (+85) - USDNGN is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score 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 Nov 14th, 2023 at 884.5000
The intermediate-term trend has been UP since Jun 16th, 2024 at 1518.8049
The short-term trend has been DOWN since Jul 22nd, 2024 at 1624.8400
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1595.99 | 1596.01 | 1581.00 | 1585.95 | -10.04 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1595.99 | 2024-07-26 13:38:13 |