Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
Singapore Dollar/Mexican Peso (FOREX:SGDMXN)
Sidelines Mode (+55) - SGDMXN 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 SGDMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for SGDMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for SGDMXN
The long-term trend has been UP since Oct 1st, 2021 at 15.217850
The intermediate-term trend has been UP since Aug 20th, 2021 at 14.832572
The short-term trend has been DOWN since Oct 13th, 2021 at 15.284472
Smart Scan Analysis for SGDMXN
Based on our trend formula, SGDMXN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).