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Forex Trend Analysis Report

Prepared for you on Thursday, May 23, 2024.

US Dollar/Moroccan Dirham (FOREX:USDMAD)

Long-Term Downtrend (-90) - USDMAD is in a strong downtrend that is likely to continue. While USDMAD is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.

Is it time to buy, sell, or avoid USDMAD?

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

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

FOREX_USDMAD
Open High Low USDMAD Price Change
9.916250 9.916250 9.912704 9.912704 -0.003546
Entry Signal

MarketClub’s Trade Triangles for USDMAD

long term down The long-term trend has been DOWN since May 15th, 2024 at 9.996870

intermediate term down The intermediate-term trend has been DOWN since May 6th, 2024 at 10.052066

short term down The short-term trend has been DOWN since May 2nd, 2024 at 10.106500

Smart Scan Analysis for USDMAD

Based on our trend formula, USDMAD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for USDMAD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
9.916250 9.916250 9.912704 9.912704 -0.003546
Prev. Close Volume Bid Ask Time
9.916250 2024-05-22 21:00:50
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