Forex Trend Analysis Report
Prepared for you on Monday, December 6, 2021.
Ugandan Shilling/US Dollar (FOREX:UGXUSD)
Countertrend Down (-85) - UGXUSD is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid UGXUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for UGXUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for UGXUSD
The long-term trend has been DOWN since Oct 7th, 2021 at 0.00028056
The intermediate-term trend has been DOWN since Nov 24th, 2021 at 0.00028346
The short-term trend has been UP since Dec 4th, 2021 at 0.00028063
Smart Scan Analysis for UGXUSD
Based on our trend formula, UGXUSD is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).