Forex Trend Analysis Report
Prepared for you on Wednesday, April 14, 2021.
Brazilian Real/Mexican Peso (FOREX:BRLMXN)
Long-Term Downtrend (-90) - BRLMXN is in a strong downtrend that is likely to continue. While BRLMXN 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 BRLMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BRLMXN
The long-term trend has been DOWN since May 7th, 2020 at 4.2476
The intermediate-term trend has been DOWN since Mar 1st, 2021 at 3.6890
The short-term trend has been DOWN since Apr 9th, 2021 at 3.5713
Smart Scan Analysis for BRLMXN
Based on our trend formula, BRLMXN is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).