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Forex Trend Analysis Report
Prepared for you on Sunday, December 22, 2024.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Strong Downtrend (-100) - USDNGN is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, USDNGN continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid USDNGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDNGN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for USDNGN
The long-term trend has been DOWN since Dec 6th, 2024 at 1589.11
The intermediate-term trend has been DOWN since Dec 4th, 2024 at 1635.00
The short-term trend has been DOWN since Dec 20th, 2024 at 1540.69
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1545.2149 | 1545.2149 | 1545.2149 | 1545.2149 | 0.0000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1545.2149 | 2024-12-21 08:23:55 |