Forex Trend Analysis Report
Prepared for you on Friday, September 29, 2023.
US Dollar/Bulgarian Lev (FOREX:USDBGN)
Bull Market Weakness (+75) - USDBGN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDBGN as it may be in the beginning stages of a reversal.
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 UP since Sep 14th, 2023 at 1.8339241
The intermediate-term trend has been UP since Aug 1st, 2023 at 1.7848400
The short-term trend has been DOWN since Sep 29th, 2023 at 1.8444000
Smart Scan Analysis for USDBGN
Based on our trend formula, USDBGN is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).