Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
Brazilian Real/Chinese Yuan Renminbi (FOREX:BRLCNY)
Countertrend Down (-85) - BRLCNY is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score 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.
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 Nov 27th, 2023 at 1.4257706
The short-term trend has been UP since Dec 1st, 2023 at 1.4343247
Smart Scan Analysis for BRLCNY
Based on our trend formula, BRLCNY is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).