Forex Trend Analysis Report
Prepared for you on Monday, March 1, 2021.
Bulgarian Lev/US Dollar (FOREX:BGNUSD)
Sidelines Mode (+55) - BGNUSD is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid BGNUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for BGNUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BGNUSD
The long-term trend has been UP since Jul 14th, 2020 at 0.58233639
The intermediate-term trend has been UP since Feb 22nd, 2021 at 0.62131609
The short-term trend has been DOWN since Feb 26th, 2021 at 0.61997230
Smart Scan Analysis for BGNUSD
Based on our trend formula, BGNUSD is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).