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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Bear Market Rally (-75) - NGNUSD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on NGNUSD as it may be in the beginning of a reversal.
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 Jul 14th, 2022 at 0.00238186
The intermediate-term trend has been DOWN since Apr 24th, 2024 at 0.00074623
The short-term trend has been UP since May 7th, 2024 at 0.00071081
Smart Scan Analysis for NGNUSD
Based on our trend formula, NGNUSD is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 0.0007239 | 0.0007239 | 0.0007226 | 0.0007226 | -0.0000010 |
| Prev. Close | Volume | Bid | Ask | Time |
| 0.0007239 | 2024-05-07 21:05:10 |