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Forex Trend Analysis Report
Prepared for you on Monday, January 17, 2022.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Long-Term Downtrend (-90) - NGNUSD is in a strong downtrend that is likely to continue. While NGNUSD is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid NGNUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for NGNUSD.
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 NGNUSD
The long-term trend has been DOWN since Jan 12th, 2022 at 0.00241466
The intermediate-term trend has been DOWN since Dec 14th, 2021 at 0.00241676
The short-term trend has been DOWN since Dec 28th, 2021 at 0.00243121
Smart Scan Analysis for NGNUSD
Based on our trend formula, NGNUSD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 0.00243091 | 0.00243091 | 0.00243091 | 0.00243091 | 0.00000000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 0.00243091 | 2022-01-14 07:15:03 |