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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
US Dollar/Ugandan Shilling (FOREX:USDUGX)
Long-Term Downtrend (-90) - USDUGX is in a strong downtrend that is likely to continue. While USDUGX is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid USDUGX?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDUGX.
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 USDUGX
The long-term trend has been DOWN since May 2nd, 2024 at 3796.6646
The intermediate-term trend has been DOWN since May 2nd, 2024 at 3796.6646
The short-term trend has been DOWN since May 2nd, 2024 at 3810.1810
Smart Scan Analysis for USDUGX
Based on our trend formula, USDUGX is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 3771.8294 | 3771.8294 | 3771.8294 | 3771.8294 | 0.0000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 3782.0152 | 2024-05-07 21:05:08 |