The naira has been appreciating against the pound, dollar, and euro. The chart here shows the daily chart for the pound/naira.
I expect the price to touch this key level for support progressively. 1512 1291 1132
With the Muslim fasting ending this week, we might see an unusual volume coming into the market. The first month after the fasting is crucial; watch out for the price action and volume.
There is also a decrease in price velocity, unlike in the first week when we saw six weeks of gains lost. Last week's price movement was quiet, and we showed signs of caution.
Assume the government policy created is working now we expect continuation of trend.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.