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Forex Trend Analysis Report

Prepared for you on Sunday, June 16, 2024.

Brazilian Real/Chinese Yuan Renminbi (FOREX:BRLCNY)

Countertrend Down (-85) - BRLCNY is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.

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

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

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

FOREX_BRLCNY
Open High Low BRLCNY Price Change
1.3533587 1.3576194 1.3466481 1.3473296 -0.0060290
Entry Signal

MarketClub’s Trade Triangles for BRLCNY

long term down The long-term trend has been DOWN since Oct 3rd, 2023 at 1.4327931

intermediate term down The intermediate-term trend has been DOWN since May 27th, 2024 at 1.3683810

short term up The short-term trend has been UP since Jun 14th, 2024 at 1.3566151

Smart Scan Analysis for BRLCNY

Based on our trend formula, BRLCNY is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-85
Smart Scan Analysis for BRLCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.3533587 1.3576194 1.3466481 1.3473296 -0.0060290
Prev. Close Volume Bid Ask Time
1.3533587 2024-06-14 17:04:47
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