Forex Trend Analysis Report
Prepared for you on Saturday, November 28, 2020.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Countertrend Down (-85) - USDNGN is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score 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.
MarketClub’s Trade Triangles for USDNGN
The long-term trend has been DOWN since May 12th, 2020 at 209.00000
The intermediate-term trend has been DOWN since Nov 10th, 2020 at 379.79402
The short-term trend has been UP since Nov 11th, 2020 at 383.16000
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).