Forex Trend Analysis Report
Prepared for you on Sunday, October 24, 2021.
Ugandan Shilling/US Dollar (FOREX:UGXUSD)
Bear Market Rally (-75) - UGXUSD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on UGXUSD as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid UGXUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for UGXUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for UGXUSD
The long-term trend has been DOWN since Oct 7th, 2021 at 0.00028056
The intermediate-term trend has been DOWN since Sep 21st, 2021 at 0.00028291
The short-term trend has been UP since Oct 23rd, 2021 at 0.00027806
Smart Scan Analysis for UGXUSD
Based on our trend formula, UGXUSD is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).