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.
MarketClub’s Trade Triangles for USDNGN
The long-term trend has been UP since Jul 31st, 2019 at 362.73000
The intermediate-term trend has been UP since Feb 4th, 2020 at 363.71049
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).