Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
Ugandan Shilling/US Dollar (FOREX:UGXUSD)
Strong Downtrend (-100) - UGXUSD is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, UGXUSD continues to fall. Traders should use caution and set stops.
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 Sep 22nd, 2023 at 0.00026709
The intermediate-term trend has been DOWN since Nov 19th, 2023 at 0.00026565
The short-term trend has been DOWN since Nov 19th, 2023 at 0.00026565
Smart Scan Analysis for UGXUSD
Based on our trend formula, UGXUSD is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).