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Forex Trend Analysis Report
Prepared for you on Friday, July 26, 2024.
Brazilian Real/Chinese Yuan Renminbi (FOREX:BRLCNY)
Long-Term Downtrend (-90) - BRLCNY is in a strong downtrend that is likely to continue. While BRLCNY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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 DOWN since May 27th, 2024 at 1.3683810
The short-term trend has been DOWN since Jul 16th, 2024 at 1.3258790
Smart Scan Analysis for BRLCNY
Based on our trend formula, BRLCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.2842792 | 1.2909935 | 1.2779608 | 1.2811730 | -0.0031060 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.2842792 | 2024-07-26 17:01:27 |