Forex Trend Analysis Report
Prepared for you on Wednesday, March 22, 2023.
Chinese Yuan Renminbi/Brazilian Real (FOREX:CNYBRL)
Countertrend Up (+85) - CNYBRL is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid CNYBRL?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYBRL.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYBRL
The long-term trend has been UP since Dec 14th, 2022 at 0.7661650
The intermediate-term trend has been UP since Mar 13th, 2023 at 0.7625922
The short-term trend has been DOWN since Mar 22nd, 2023 at 0.7589900
Smart Scan Analysis for CNYBRL
Based on our trend formula, CNYBRL is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).