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Forex Trend Analysis Report
Prepared for you on Saturday, October 26, 2024.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Bull Market Weakness (+75) - USDNGN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDNGN as it may be in the beginning stages of a reversal.
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 UP since Nov 14th, 2023 at 884.50
The intermediate-term trend has been DOWN since Oct 9th, 2024 at 1613.99
The short-term trend has been UP since Oct 21st, 2024 at 1643.89
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1643.26 | 1645.00 | 1641.63 | 1645.00 | +1.74 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1643.26 | 2024-10-25 17:06:35 |