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Forex Trend Analysis Report

Prepared for you on Thursday, December 12, 2024.

Nigerian Naira/US Dollar (FOREX:NGNUSD)

Countertrend Up (+85) - NGNUSD is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.

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
0.00064374 0.00064374 0.00064374 0.00064374 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 up The short-term trend has been UP since Dec 9th, 2024 at 0.00060291

Smart Scan Analysis for NGNUSD

Based on our trend formula, NGNUSD is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+80
Smart Scan Analysis for NGNUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00064374 0.00064374 0.00064374 0.00064374 0.00000000
Prev. Close Volume Bid Ask Time
0.00064799 2024-12-09 07:25:14
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