Forex Trend Analysis Report
Prepared for you on Monday, October 14, 2019.
Brazilian Real/Mexican Peso (FOREX:BRLMXN)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for BRLMXN
The long term trend has been DOWN since Sep 4th, 2019 at 4.7765
The intermediate term trend has been UP since Oct 7th, 2019 at 4.8256
The short term trend has been DOWN since Oct 8th, 2019 at 4.7713
Smart Scan Analysis for BRLMXN
Based on a pre-defined weighted trend formula for chart analysis, BRLMXN scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).