Forex Trend Analysis Report
Prepared for you on Wednesday, June 7, 2023.
Brazilian Real/Mexican Peso (FOREX:BRLMXN)
Strong Downtrend (-100) - BRLMXN is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, BRLMXN continues to fall. Traders should use caution and set stops.
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.
MarketClub’s Trade Triangles for BRLMXN
The long-term trend has been DOWN since Jun 20th, 2022 at 3.9229000
The intermediate-term trend has been DOWN since May 26th, 2023 at 3.5267000
The short-term trend has been DOWN since Jun 7th, 2023 at 3.5271496
Smart Scan Analysis for BRLMXN
Based on our trend formula, BRLMXN is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).