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Forex Trend Analysis Report

Prepared for you on Friday, December 8, 2023.

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.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_BGNCNY
Open High Low BGNCNY Price Change
3.9235646 3.9314347 3.9098625 3.9245833 +0.0010190
Entry Signal

MarketClub’s Trade Triangles for BGNCNY

long term down The long-term trend has been DOWN since Sep 26th, 2023 at 3.8777482

intermediate term down The intermediate-term trend has been DOWN since Dec 5th, 2023 at 3.9144128

short term down The short-term trend has been DOWN since Nov 30th, 2023 at 3.9552613

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
3.9235646 3.9314347 3.9098625 3.9245833 +0.0010190
Prev. Close Volume Bid Ask Time
3.9235646 2023-12-08 04:28:44
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