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Forex Trend Analysis Report

Prepared for you on Saturday, December 2, 2023.

US Dollar/Nigerian Naira (FOREX:USDNGN)

Sidelines Mode (+55) - USDNGN is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.

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
789.4 789.4 789.0 789.0 -0.4
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term up The long-term trend has been UP since Nov 14th, 2023 at 884.50

intermediate term up The intermediate-term trend has been UP since Nov 14th, 2023 at 884.50

short term down The short-term trend has been DOWN since Nov 19th, 2023 at 827.34

Smart Scan Analysis for USDNGN

Based on our trend formula, USDNGN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+55
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
789.4 789.4 789.0 789.0 -0.4
Prev. Close Volume Bid Ask Time
789.4 2023-12-01 09:30:15
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