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Forex Trend Analysis Report

Prepared for you on Monday, May 29, 2023.

Somali Shilling/US Dollar (FOREX:SOSUSD)

Long-Term Downtrend (-90) - SOSUSD is in a strong downtrend that is likely to continue. While SOSUSD 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 SOSUSD?

MarketClub looks at technical strength and momentum to determine if the timing is right for SOSUSD.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_SOSUSD
Open High Low SOSUSD Price Change
0.00176436 0.00176453 0.00176263 0.00176453 0.00000000
Entry Signal

MarketClub’s Trade Triangles for SOSUSD

long term down The long-term trend has been DOWN since Apr 16th, 2023 at 0.00176213

intermediate term down The intermediate-term trend has been DOWN since May 14th, 2023 at 0.00176473

short term down The short-term trend has been DOWN since May 14th, 2023 at 0.00176473

Smart Scan Analysis for SOSUSD

Based on our trend formula, SOSUSD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for SOSUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00176436 0.00176453 0.00176263 0.00176453 0.00000000
Prev. Close Volume Bid Ask Time
0.00176436 2023-05-28 23:08:44
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