Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
Euro/Brazilian Real (FOREX:EURBRL)
Sidelines Mode (+55) - EURBRL 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 EURBRL?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURBRL.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for EURBRL
The long-term trend has been UP since Oct 6th, 2023 at 5.4640
The intermediate-term trend has been UP since Nov 27th, 2023 at 5.3646
The short-term trend has been DOWN since Dec 1st, 2023 at 5.3430
Smart Scan Analysis for EURBRL
Based on our trend formula, EURBRL is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).