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Forex Trend Analysis Report
Prepared for you on Wednesday, November 20, 2024.
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 Nov 14th, 2023 at 884.50
The intermediate-term trend has been UP since Nov 5th, 2024 at 1662.50
The short-term trend has been UP since Nov 19th, 2024 at 1679.69
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 |
|---|---|---|---|---|
| 1677.89 | 1681.87 | 1674.81 | 1677.07 | -0.82 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1677.89 | 2024-11-19 23:41:37 |