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Forex Trend Analysis Report

Prepared for you on Thursday, December 26, 2024.

Nigerian Naira/US Dollar (FOREX:NGNUSD)

Sidelines Mode (+55) - NGNUSD 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 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.

FOREX_NGNUSD
Open High Low NGNUSD Price Change
0.00064716 0.00064716 0.00064716 0.00064716 0.00000000
Entry Signal

MarketClub’s Trade Triangles for NGNUSD

long term up The long-term trend has been UP since Dec 9th, 2024 at 0.00061475

intermediate term up The intermediate-term trend has been UP since Dec 9th, 2024 at 0.00060291

short term down The short-term trend has been DOWN since Dec 18th, 2024 at 0.00064374

Smart Scan Analysis for NGNUSD

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

+55
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00064716 0.00064716 0.00064716 0.00064716 0.00000000
Prev. Close Volume Bid Ask Time
0.00064700 2024-12-21 08:23:55
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