Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
Brazilian Real/Norwegian Krone (FOREX:BRLNOK)
Sidelines Mode (-55) - BRLNOK is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid BRLNOK?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLNOK.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BRLNOK
The long-term trend has been UP since Oct 26th, 2023 at 2.2539281
The intermediate-term trend has been DOWN since Nov 20th, 2023 at 2.2006592
The short-term trend has been UP since Dec 4th, 2023 at 2.1989713
Smart Scan Analysis for BRLNOK
Based on our trend formula, BRLNOK is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).