Forex Trend Analysis Report
Prepared for you on Tuesday, December 5, 2023.
Ugandan Shilling/South African Rand (FOREX:UGXZAR)
Sidelines Mode (+50) - UGXZAR is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until UGXZAR can gain momentum.
Is it time to buy, sell, or avoid UGXZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for UGXZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for UGXZAR
The long-term trend has been DOWN since Nov 12th, 2023 at 0.00499024
The intermediate-term trend has been UP since Dec 5th, 2023 at 0.00497359
The short-term trend has been UP since Dec 4th, 2023 at 0.00490906
Smart Scan Analysis for UGXZAR
Based on our trend formula, UGXZAR is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).