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Forex Trend Analysis Report
Prepared for you on Sunday, May 18, 2025.
US Dollar/Nigerian Naira (FOREX:USDNGN)
Crossroads (+60) - USDNGN is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
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 Apr 7th, 2025 at 1560.6224
The intermediate-term trend has been DOWN since May 16th, 2025 at 1597.4400
The short-term trend has been DOWN since May 16th, 2025 at 1598.0300
Smart Scan Analysis for USDNGN
Based on our trend formula, USDNGN is rated as a +60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1602.3600 | 1607.3812 | 1596.7000 | 1607.3812 | +5.0212 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1607.3812 | 2025-05-16 19:12:35 |