Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
US Dollar/Ugandan Shilling (FOREX:USDUGX)
Countertrend Up (+85) - USDUGX is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
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.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDUGX
The long-term trend has been UP since Sep 22nd, 2023 at 3744.4532
The intermediate-term trend has been UP since Nov 19th, 2023 at 3764.8282
The short-term trend has been UP since Nov 19th, 2023 at 3764.8282
Smart Scan Analysis for USDUGX
Based on our trend formula, USDUGX is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).