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Forex Trend Analysis Report

Prepared for you on Wednesday, October 27, 2021.

Bulgarian Lev/Chinese Yuan Renminbi (FOREX:BGNCNY)

Long-Term Downtrend (-90) - BGNCNY is in a strong downtrend that is likely to continue. While BGNCNY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.

Is it time to buy, sell, or avoid BGNCNY?

MarketClub looks at technical strength and momentum to determine if the timing is right for BGNCNY.

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FOREX_BGNCNY
Open High Low BGNCNY Price Change
3.7877192 3.7959810 3.7861745 3.7944785 +0.0067590
Entry Signal

MarketClub’s Trade Triangles for BGNCNY

long term down The long-term trend has been DOWN since Oct 14th, 2020 at 4.0319051

intermediate term down The intermediate-term trend has been DOWN since Sep 13th, 2021 at 3.8845485

short term down The short-term trend has been DOWN since Oct 19th, 2021 at 3.8084867

Smart Scan Analysis for BGNCNY

Based on our trend formula, BGNCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for BGNCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
3.7877192 3.7959810 3.7861745 3.7944785 +0.0067590
Prev. Close Volume Bid Ask Time
3.7877192 2021-10-27 21:54:52
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