Forex Trend Analysis Report
Prepared for you on Monday, December 10, 2018.
US Dollar/Ugandan Shilling (FOREX:USDUGX)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for USDUGX
The long term trend has been DOWN since Jul 25th, 2018 at 3689.70
The intermediate term trend has been DOWN since Oct 4th, 2018 at 3791.55
The short term trend has been UP since Dec 4th, 2018 at 3733.20
Smart Scan Analysis for USDUGX
Based on a pre-defined weighted trend formula for chart analysis, USDUGX scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).