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.
MarketClub’s Trade Triangles for SOSUSD
The long-term trend has been DOWN since Apr 16th, 2023 at 0.00176213
The intermediate-term trend has been DOWN since May 14th, 2023 at 0.00176473
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).