Forex Trend Analysis Report
Prepared for you on Saturday, April 10, 2021.
Nigerian Naira/US Dollar (FOREX:NGNUSD)
Bull Market Weakness (+75) - NGNUSD is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on NGNUSD as it may be in the beginning stages 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.
MarketClub’s Trade Triangles for NGNUSD
The long-term trend has been DOWN since Dec 11th, 2020 at 0.00257902
The intermediate-term trend has been UP since Mar 28th, 2021 at 0.00244219
The short-term trend has been UP since Apr 10th, 2021 at 0.00244249
Smart Scan Analysis for NGNUSD
Based on our trend formula, NGNUSD is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).