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Forex Trend Analysis Report

Prepared for you on Tuesday, June 18, 2024.

US Dollar/Ugandan Shilling (FOREX:USDUGX)

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

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

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FOREX_USDUGX
Open High Low USDUGX Price Change
3705.8796 3712.5788 3705.8796 3712.5788 +6.6992
Entry Signal

MarketClub’s Trade Triangles for USDUGX

long term down The long-term trend has been DOWN since May 2nd, 2024 at 3796.6646

intermediate term down The intermediate-term trend has been DOWN since May 2nd, 2024 at 3796.6646

short term down The short-term trend has been DOWN since Jun 6th, 2024 at 3801.8063

Smart Scan Analysis for USDUGX

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

-90
Smart Scan Analysis for USDUGX
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
3705.8796 3712.5788 3705.8796 3712.5788 +6.6992
Prev. Close Volume Bid Ask Time
3718.5128 2024-06-16 21:00:22
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