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Forex Trend Analysis Report

Prepared for you on Wednesday, May 22, 2024.

US Dollar/Bulgarian Lev (FOREX:USDBGN)

Sidelines Mode (+55) - USDBGN 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 USDBGN?

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

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_USDBGN
Open High Low USDBGN Price Change
1.801045 1.807725 1.800500 1.806850 +0.005805
Entry Signal

MarketClub’s Trade Triangles for USDBGN

long term up The long-term trend has been UP since Apr 12th, 2024 at 1.8284

intermediate term down The intermediate-term trend has been DOWN since May 6th, 2024 at 1.8150

short term up The short-term trend has been UP since May 22nd, 2024 at 1.8026

Smart Scan Analysis for USDBGN

Based on our trend formula, USDBGN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+55
Smart Scan Analysis for USDBGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.801045 1.807725 1.800500 1.806850 +0.005805
Prev. Close Volume Bid Ask Time
1.801045 2024-05-22 18:53:27
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