Forex Trend Analysis Report
Prepared for you on Friday, March 31, 2023.
US Dollar/Venezuelan Sovereign Bolivar (FOREX:USDVES)
Countertrend Up (+85) - USDVES 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 USDVES?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDVES.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDVES
The long-term trend has been UP since May 9th, 2022 at 4.520700
The intermediate-term trend has been UP since Mar 27th, 2023 at 24.206055
The short-term trend has been UP since Mar 27th, 2023 at 24.149251
Smart Scan Analysis for USDVES
Based on our trend formula, USDVES is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).