Forex Trend Analysis Report
Prepared for you on Saturday, January 28, 2023.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Long-Term Uptrend (+90) - USDNGN is in a strong uptrend that is likely to continue. While USDNGN is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
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 UP since Jun 14th, 2022 at 418.49841
The intermediate-term trend has been UP since Nov 11th, 2022 at 442.65083
The short-term trend has been UP since Dec 28th, 2022 at 446.65000
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).