Forex Trend Analysis Report
Prepared for you on Thursday, May 24, 2018.
Brazilian Real/Chilean Peso (FOREX:BRLCLP)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management stops.
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 BRLCLP
The long term trend has been DOWN since May 18th, 2017 at 203.1150
The intermediate term trend has been DOWN since May 11th, 2018 at 171.6875
The short term trend has been UP since May 21st, 2018 at 172.5000
Smart Scan Analysis for BRLCLP
Based on a pre-defined weighted trend formula for chart analysis, BRLCLP scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).