Forex Trend Analysis Report
Prepared for you on Wednesday, December 7, 2022.
US Dollar/Bulgarian Lev (FOREX:USDBGN)
Countertrend Down (-85) - USDBGN 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 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.
MarketClub’s Trade Triangles for USDBGN
The long-term trend has been DOWN since Nov 13th, 2022 at 1.8871000
The intermediate-term trend has been DOWN since Oct 26th, 2022 at 1.9565341
The short-term trend has been UP since Dec 7th, 2022 at 1.8717416
Smart Scan Analysis for USDBGN
Based on our trend formula, USDBGN is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).