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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.

FOREX_USDNGN
Open High Low USDNGN Price Change
380.99152 381.00000 380.99152 381.00000 +0.00848
Entry Signal

MarketClub’s Trade Triangles for USDNGN

long term down The long-term trend has been DOWN since May 12th, 2020 at 209.00000

intermediate term down The intermediate-term trend has been DOWN since Nov 10th, 2020 at 379.79402

short term up 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).

-85
Smart Scan Analysis for USDNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
380.99152 381.00000 380.99152 381.00000 +0.00848
Prev. Close Volume Bid Ask Time
380.99152 2020-11-27 13:05:22
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