Forex Trend Analysis Report
Prepared for you on Tuesday, June 2, 2020.
Mexican Peso/Norwegian Krone (FOREX:MXNNOK)
Sidelines Mode (-55) - MXNNOK 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 MXNNOK?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNNOK.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MXNNOK
The long-term trend has been DOWN since Mar 6th, 2020 at 0.463335
The intermediate-term trend has been UP since May 21st, 2020 at 0.435380
The short-term trend has been DOWN since May 28th, 2020 at 0.440285
Smart Scan Analysis for MXNNOK
Based on our trend formula, MXNNOK is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).