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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.

FOREX_NGNZAR
Open High Low NGNZAR Price Change
0.03990698 0.04026100 0.03980794 0.04010723 +0.00020000
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 Oct 22nd, 2020 at 0.04235972

short term down 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).

-90
Smart Scan Analysis for NGNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.03990698 0.04026100 0.03980794 0.04010723 +0.00020000
Prev. Close Volume Bid Ask Time
0.03990698 2020-11-27 17:18:55
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