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Forex Trend Analysis Report
Prepared for you on Wednesday, May 1, 2024.
Brazilian Real/Mexican Peso (FOREX:BRLMXN)
Sidelines Mode (-55) - BRLMXN 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 BRLMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLMXN.
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 BRLMXN
The long-term trend has been DOWN since Jan 8th, 2024 at 3.4474000
The intermediate-term trend has been UP since Apr 18th, 2024 at 3.3300575
The short-term trend has been DOWN since Apr 30th, 2024 at 3.3214076
Smart Scan Analysis for BRLMXN
Based on our trend formula, BRLMXN is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 3.2975 | 3.2995 | 3.2936 | 3.2972 | -0.0003 |
| Prev. Close | Volume | Bid | Ask | Time |
| 3.2975 | 2024-05-01 06:21:42 |