Forex Trend Analysis Report
Prepared for you on Tuesday, April 20, 2021.
Euro/Nigerian Naira (FOREX:EURNGN)
Long-Term Uptrend (+90) - EURNGN is in a strong uptrend that is likely to continue. While EURNGN 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 EURNGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURNGN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for EURNGN
The long-term trend has been UP since Mar 5th, 2020 at 408.97
The intermediate-term trend has been UP since Apr 18th, 2021 at 486.10
The short-term trend has been UP since Apr 6th, 2021 at 480.97
Smart Scan Analysis for EURNGN
Based on our trend formula, EURNGN is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).