The Nigerian Naira $NGN has been losing value for months in relation to the USDT. Current Price: 1130/$ Price Action has created a rising Channel.. Only two things can happen: Naira NGN price action breaks out of the rising channel to higher prices up to 1700/$ OR #NGN Price Action continues to find resistance around the 1300 level to break down to previous...
Above #1k/$ is Distatrous, because the Naira has crossed a critical demand zone, now if finding a new Liquidity area which is only available at #2.5k/$
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Please support this idea with a LIKE👍 if you find it useful🥳 Not a financial advice🙅🏼♂️ I expect Naira rate to either FALL towards #500-#540/$ OR RISE towards #600-#620/$ Right here is the Nigerian exchange rate against the US Dollar. We have price in a symmetrical triangle approaching the dead zone when price can either break upward or downward....
The price is in an uptrend. Therefore, price may fall to 520 or rise to 580. what do you think? Share your opinion in the comment section✍️ Please support this idea with a LIKE👍 if you find it useful🥳 Also, kindly cheer me with coins if you like my work. Follow me to receive more updates on this pair🤙 Happy Trading💰🥳🤗
USDTNGN has been consolidating in a symmetrical triangle pattern on the Daily timeframe. Potential breakout. Possible price actions are indicated on the chart.
USDTNGN is testing the ascending channel resistance. RSI is printing a bearish divergence signal. Potential retracement to the ascending channel support + fibonacci retracement levels ⬇️.