Forex Trend Analysis Report
Prepared for you on Saturday, May 30, 2020.
Mexican Peso/Brazilian Real (FOREX:MXNBRL)
Sidelines Mode (+55) - MXNBRL 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 MXNBRL?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNBRL.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MXNBRL
The long-term trend has been UP since May 7th, 2020 at 0.23542547
The intermediate-term trend has been UP since Apr 22nd, 2020 at 0.22198281
The short-term trend has been DOWN since May 18th, 2020 at 0.24132656
Smart Scan Analysis for MXNBRL
Based on our trend formula, MXNBRL is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).