Forex Trend Analysis Report
Prepared for you on Wednesday, November 29, 2023.
Bulgarian Lev/Chinese Yuan Renminbi (FOREX:BGNCNY)
Crossroads (+60) - BGNCNY is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid BGNCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for BGNCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BGNCNY
The long-term trend has been DOWN since Sep 26th, 2023 at 3.8777482
The intermediate-term trend has been UP since Oct 23rd, 2023 at 3.9021884
The short-term trend has been UP since Nov 27th, 2023 at 3.9782186
Smart Scan Analysis for BGNCNY
Based on our trend formula, BGNCNY is rated as a +60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).