Forex Trend Analysis Report
Prepared for you on Wednesday, January 29, 2020.
Brazilian Real/Peruvian Nuevo Sol (FOREX:BRLPEN)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for BRLPEN
The long term trend has been DOWN since Aug 27th, 2019 at 0.8085
The intermediate term trend has been DOWN since Jan 13th, 2020 at 0.8082
The short term trend has been UP since Jan 28th, 2020 at 0.7966
Smart Scan Analysis for BRLPEN
Based on a pre-defined weighted trend formula for chart analysis, BRLPEN scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).