Free Daily Analysis

Forex Trend Analysis Report

Prepared for you on Friday, February 21, 2020.

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.

FOREX_USDNGN
Open High Low USDNGN Price Change
365.35709 365.35709 363.50000 363.50000 -1.85709
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term up The long-term trend has been UP since Jul 31st, 2019 at 362.73000

intermediate term up The intermediate-term trend has been UP since Feb 4th, 2020 at 363.71049

short term up The short-term trend has been UP since Jan 27th, 2020 at 362.89630

Smart Scan Analysis for USDNGN

Based on our trend formula, USDNGN is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+70
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
365.35709 365.35709 363.50000 363.50000 -1.85709
Prev. Close Volume Bid Ask Time
365.35709 362.00000 365.00000 2020-02-20 09:08:59
Get a free daily analysis and signals for US Dollar/Nigerian Naira (USDNGN) - Request Your Free Report.