₦airaland Forum

fxuser:
Access
- men hv shown vol

Acces
- a bearish Engulfing week on vol making a new lowest weekly close for d yr #nawa
- cheap cud be cheaper

Transcorp
- weekly gat too many long wicks above ! !
- daily found some possible support

FCMB
- uninspiring close to a positive week after many weeks

fxuser:
- unable to break above the upper band is cause for concern
- ff by breaking below the lower band / support is another cause for concern


#RedFlags Sha

RedFlag Update
- weekly closure below the tight range is nt a good sign
- it's 3.33% above its 52-week low of N4.50, set on Jul 19, 2018
- is price getting ready for a new low ?? #umm

fxuser:
seems inevitable after elections !
at least that N306 official needs to be deleted

If they don't devalue before election, I doubt if the will do so after election, especially with all the new refineries coming up by next year.

Mpeace:
If they don't devalue before election, I doubt if the will do so after election, especially with all the new refineries coming up by next year.

No be date wey dem give u be that, make e happen first

Trading long on coffee this week
Baba God bless my hustle

tritritri:
few members here av been worried about devaluation . I pray it doesn't happen...i really pray.

Bros, if there's anything you need to do before devaluation, now is the time to do it. Devaluation is inevitably now. I had to go and clear most of my foreign currency denominated credits just weeks back. Maybe am always too afraid of things yet to happen but this has saved me a lot of time.

Imagine our reserves going down while our major source of forex (oil sales) was on the increase. Imagine what will happen when oil price drops drastically.

As a guide, I don't know how we can estimate what these FPI's still have left in the country, that might be a guide as to how much they will pull from our reserves.

All in all, everyone should have an approach to either side of the divide. What to do when the worst happens as well as what to go should the tide change for good.

The only force holding Emefiele from devaluing our currency is elections. After elections expect anything and I believe this devaluation (and possibly total floating of the currency) and further directions of the government will usher in the great bulls.

I have also been wrong severally but presently this is the only scenario that my mind has come to accept.

Mpeace:
If they don't devalue before election, I doubt if the will do so after election, especially with all the new refineries coming up by next year.

testing Emefiele's resolve !
the longer he holds it , d berra for Naira short-sellers

Agbalowomeri:
Trading long on coffee this week
Baba God bless my hustle

amen oh
wat platform do u use Agba ?

mendes911:
Bros, if there's anything you need to do before devaluation, now is the time to do it. Devaluation is inevitably now. I had to go and clear most of my foreign currency denominated credits just weeks back. Maybe am always too afraid of things yet to happen but this has saved me a lot of time.

Imagine our reserves going down while our major source of forex (oil sales) was on the increase. Imagine what will happen when oil price drops drastically.

As a guide, I don't know how we can estimate what these FPI's still have left in the country, that might be a guide as to how much they will pull from our reserves.

All in all, everyone should have an approach to either side of the divide. What to do when the worst happens as well as what to go should the tide change for good.

The only force holding Emefiele from devaluing our currency is elections. After elections expect anything and I believe this devaluation (and possibly total floating of the currency) and further directions of the government will usher in the great bulls.

I have also been wrong severally but presently this is the only scenario that my mind has come to accept.

Not currently in the country , dat add a big challenge to opening dollar acct.

Agbalowomeri:
Trading long on coffee this week
Baba God bless my hustle

oga you trade coffee also?from your village!i fear ooo.

DOLLARTEX:
oga you trade coffee also?from your village!i fear ooo.

We get coffee plantation inherited from my grandfather

fxuser:
amen oh
wat platform do u use Agba ?

Avatrade

Agbalowomeri:
We get coffee plantation inherited from my grandfather

nice
where can i order ur organic coffee
looking at $kc, i c dat possible pennant formation after d long pole on d day TF!

fxuser:
nice
where can i order ur organic coffee
looking at $kc, i c dat possible pennant formation after d long pole on d day TF!

Kai knowledge/wisdom will not kee u this man

Please will this devaluing of naira affect euro ? Or it’s just against the dollar ?
I don’t have much knowledge about this..
Let’s take for instance, I have only naira and after the devaluation and I want to buy euro, how will it affect me ? Positively or Negatively ?

how does one save money in foreign currency and escape the excessive charges.....I ask this as i am about to sell a bike i bought 4 years ago for more than 150% the amount I bought it, after reminising, i think it is futile to save or invest in naira as your base currency......Naira is just not a good store of value, I still earn the same salary as i did 4 years ago but i am fucking poorer.......Its so bad that when i checked my Retirement savings account, my balance 4 years ago is greater than the amount there now if we convert the money to dollars @ the exchange rates of 2013 and 2018.....................Please help me out ??

Yayira:
Please will this devaluing of naira affect euro ? Or it’s just against the dollar ?
I don’t have much knowledge about this..
Let’s take for instance, I have only naira and after the devaluation and I want to buy euro, how will it affect me ? Positively or Negatively ?

Cuts across

Agbalowomeri:
Cuts across

? Agba just 2 words? Abeg explain for me well Haba!

Yayira:
? Agba just 2 words? Abeg explain for me well Haba!

Your naira will buy fewer
Be it dollar, pound, euro

Agbalowomeri:
Your naira will buy fewer
Be it dollar, pound, euro

My God! So what will be your advice to me ?

Yayira:
My God! So what will be your advice to me ?

We are all speculating o;
If you have further hard currencies, keep for now
Or better still concentrate investment on 'foreign asset-income generating'
Abeg cornwall come rearrange those words in quote

Agbalowomeri:
We are all speculating o;
If you have further hard currencies, keep for now
Or better still concentrate investment on 'foreign asset-income generating'
Abeg cornwall come rearrange those words in quote

Ok.. thanks

Agbalowomeri:
Kai knowledge/wisdom will not kee u this man

argh , i remain a full student oh ! so much to learn !
will chk avatrade out

Agbalowomeri:
We are all speculating o;
If you have further hard currencies, keep for now
Or better still concentrate investment on 'foreign asset-income generating'
Abeg cornwall come rearrange those words in quote

deriz no better hedge dan dis: 'foreign asset-income generating'

Agbalowomeri:
Your naira will buy fewer
Be it dollar, pound, euro

or rand, cfa or even bitici sef #sigh
earning naira over a long period is "a life of toil"

#randomThot

Reserve depletion is slowing. Inference could be that 1. outflow is slowing/reducing
2. inflow is increasing gradually, just an observation.

Fitch just gave an upgrade.

Check for the nigeria reserve scenario below.
https://www.cbn.gov.ng/intops/Reserve.asp

Other inputs are welcomed

GB2G:
Reserve depletion is slowing. Inference could be that 1. outflow is slowing/reducing
2. inflow is increasing gradually, just an observation.

Fitch just gave an upgrade.

Check for the nigeria reserve scenario below.
https://www.cbn.gov.ng/intops/Reserve.asp

Other inputs are welcomed

Inflow increasing? Seriously?

tritritri:
Not currently in the country , dat add a big challenge to opening dollar acct.

As big as you are, your account officer should be worshipping you. You don't necessarily have to be around to do some certain things, that's one of the benefits of being a big man like you. Get your money to work for you!

I know of a bank that once opened a current account for one politician, customised the account, printed cheque books, etc and then went to pay the man a visit. Informs the man that they noticed that he doesn't have an account with them and that all he needs to do is to sign the "signature sample form" and return to them, and the account becomes active.

Your being outside the country can't be a hindrance.

Also note that devaluation is not certain but the signs are heavily there and the odds that it will happen is on the increase.

.

Mpeace:
All these chudren wey dey talk abaut civil war wey happen be4 dem comot frm belle... Make I go sleep sef

56 na shaid? Everyone here no be shidren o.