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NGNUSD

$NGN NGN Nigerian Naira at decision Point! 1000 or 2500...$NGN The Nigerian Naira for months has been devalued in relation to the Dollar Current price: 1773 per $1 The price1773 has previously been visited around March 2024, Price action is currently forming a rising wedge. Only two things can happen: #NGN Price Action can break out of the rising wedge to reach higher prices up to 2500 Or Price Action can continue to reject the area around 1773 to retest supports down to 1000. Previous Supports: 1576, 1389, 1176, 991
by Ifiok-Trades
USDTNGN - To drop to 630/$ then rise to 800, 900 & 950/$#Nigerian Naira Rate (Update) Day after day, the Nigerian currency is losing it’s value. Here is a weekly timeframe analysis. Based on technical analysis, Naira broke it’s major resistance at 630/$ to $710 and pullback is needed to gain momentum for the next run up. Therefore I expect a fall to 630/dollar before a rise to new price target at 800, 850, 900, 950 per dollar. Not a financial advice🙅🏼‍♂️ Share your opinion in the comment section✍️ Please support this idea with a LIKE👍 if you find it useful🥳 Happy Trading💰🥳🤗
UShort
by PetrockTheAnalyst
9
NairaOne thing to know about naira to USD is that after every consolidation, there's always an historic fall. With how the Nigerian economy is, a currency like Naira only seeks to stabilize rather than hope on recovery. Naira wont be making making a recovery above previous high of 0.002375 and till month of august candle is fully formed, an entry is not advised. Just let August gust away, no clear entry for now just incase you've missed on the last entry point of 0.002366 (DTF) DT - Daily Time Frame
by fxred99
4