Forex Trend Analysis Report
Prepared for you on Monday, October 14, 2019.
US Dollar/Ugandan Shilling (FOREX:USDUGX)
Smart Scan Chart Analysis indicates that the upward trend for this market is at a crossroads and has possibly ended. Look for choppy trading conditions in the near term Trading Range Mode.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for USDUGX
The long term trend has been DOWN since Jun 23rd, 2019 at 3683.85
The intermediate term trend has been UP since Oct 13th, 2019 at 3689.30
The short term trend has been UP since Sep 25th, 2019 at 3681.15
Smart Scan Analysis for USDUGX
Based on a pre-defined weighted trend formula for chart analysis, USDUGX scored +50 on a scale from -100 (strong downtrend) to +100 (strong uptrend).