Forex Trend Analysis Report
Prepared for you on Monday, October 2, 2023.
Turkish Lira/Mexican Peso (FOREX:TRYMXN)
Sidelines Mode (+55) - TRYMXN 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 TRYMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for TRYMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for TRYMXN
The long-term trend has been DOWN since Mar 21st, 2021 at 2.5095
The intermediate-term trend has been UP since Aug 3rd, 2023 at 0.6450
The short-term trend has been DOWN since Oct 2nd, 2023 at 0.6314
Smart Scan Analysis for TRYMXN
Based on our trend formula, TRYMXN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).