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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Brazilian Real/Chinese Yuan Renminbi (FOREX:BRLCNY)
Sidelines Mode (+55) - BRLCNY 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 BRLCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for BRLCNY
The long-term trend has been DOWN since Oct 3rd, 2023 at 1.4327931
The intermediate-term trend has been UP since May 6th, 2024 at 1.3974810
The short-term trend has been DOWN since May 9th, 2024 at 1.3825578
Smart Scan Analysis for BRLCNY
Based on our trend formula, BRLCNY is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.3907489 | 1.3971079 | 1.3687773 | 1.3757910 | -0.0149580 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.3907489 | 2024-05-09 14:47:27 |