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Forex Trend Analysis Report

Prepared for you on Tuesday, March 19, 2024.

Nigerian Naira/US Dollar (FOREX:NGNUSD)

Sidelines Mode (+50) - NGNUSD is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until NGNUSD can gain momentum.

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
0.00064092 0.00064092 0.00063889 0.00063889 -0.00000200
Entry Signal

MarketClub’s Trade Triangles for NGNUSD

long term down The long-term trend has been DOWN since Jul 14th, 2022 at 0.00238186

intermediate term up The intermediate-term trend has been UP since Mar 18th, 2024 at 0.00064031

short term up The short-term trend has been UP since Mar 18th, 2024 at 0.00064031

Smart Scan Analysis for NGNUSD

Based on our trend formula, NGNUSD is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+50
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00064092 0.00064092 0.00063889 0.00063889 -0.00000200
Prev. Close Volume Bid Ask Time
0.00064092 2024-03-18 22:07:02
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