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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
US Dollar/Bulgarian Lev (FOREX:USDBGN)
Sidelines Mode (+55) - USDBGN is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid USDBGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDBGN.
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 USDBGN
The long-term trend has been UP since Apr 12th, 2024 at 1.8284
The intermediate-term trend has been DOWN since May 6th, 2024 at 1.8150
The short-term trend has been UP since May 8th, 2024 at 1.8211
Smart Scan Analysis for USDBGN
Based on our trend formula, USDBGN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.82000 | 1.82380 | 1.81973 | 1.82380 | +0.00380 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.82000 | 2024-05-09 07:28:11 |