Forex Trend Analysis Report
Prepared for you on Friday, November 27, 2020.
Nigerian Naira/South African Rand (FOREX:NGNZAR)
Long-Term Downtrend (-90) - NGNZAR is in a strong downtrend that is likely to continue. While NGNZAR is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid NGNZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for NGNZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for NGNZAR
The long-term trend has been DOWN since Jul 27th, 2020 at 0.04216590
The intermediate-term trend has been DOWN since Oct 22nd, 2020 at 0.04235972
The short-term trend has been DOWN since Nov 20th, 2020 at 0.03977541
Smart Scan Analysis for NGNZAR
Based on our trend formula, NGNZAR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).