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Forex Trend Analysis Report

Prepared for you on Sunday, April 21, 2024.

Nigerian Naira/South African Rand (FOREX:NGNZAR)

Bull Market Weakness (+75) - NGNZAR is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on NGNZAR as it may be in the beginning stages of a reversal.

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.

FOREX_NGNZAR
Open High Low NGNZAR Price Change
0.01672143 0.01854076 0.01664233 0.01847428 +0.00175300
Entry Signal

MarketClub’s Trade Triangles for NGNZAR

long term down The long-term trend has been DOWN since Oct 23rd, 2023 at 0.02169296

intermediate term up The intermediate-term trend has been UP since Mar 13th, 2024 at 0.01278382

short term up The short-term trend has been UP since Apr 5th, 2024 at 0.01494346

Smart Scan Analysis for NGNZAR

Based on our trend formula, NGNZAR is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+70
Smart Scan Analysis for NGNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.01672143 0.01854076 0.01664233 0.01847428 +0.00175300
Prev. Close Volume Bid Ask Time
0.01672143 2024-04-19 17:02:45
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