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Forex Trend Analysis Report

Prepared for you on Wednesday, March 3, 2021.

Nigerian Naira/South African Rand (FOREX:NGNZAR)

Sidelines Mode (-55) - NGNZAR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.

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
0.03920585 0.03976345 0.03898820 0.03973818 +0.00053200
Entry Signal

MarketClub’s Trade Triangles for NGNZAR

long term down The long-term trend has been DOWN since Jul 27th, 2020 at 0.04216590

intermediate term down The intermediate-term trend has been DOWN since Feb 14th, 2021 at 0.03803347

short term up The short-term trend has been UP since Mar 3rd, 2021 at 0.03975980

Smart Scan Analysis for NGNZAR

Based on our trend formula, NGNZAR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for NGNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.03920585 0.03976345 0.03898820 0.03973818 +0.00053200
Prev. Close Volume Bid Ask Time
0.03920585 2021-03-03 16:49:46
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