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Forex Trend Analysis Report

Prepared for you on Friday, June 21, 2024.

Brazilian Real/Venezuelan Sovereign Bolivar (FOREX:BRLVES)

Long-Term Downtrend (-90) - BRLVES is in a strong downtrend that is likely to continue. While BRLVES 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 BRLVES?

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

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

FOREX_BRLVES
Open High Low BRLVES Price Change
6.6619 6.6994 6.6530 6.6890 +0.0271
Entry Signal

MarketClub’s Trade Triangles for BRLVES

long term down The long-term trend has been DOWN since Apr 1st, 2024 at 7.1642

intermediate term down The intermediate-term trend has been DOWN since May 27th, 2024 at 7.0493

short term down The short-term trend has been DOWN since May 22nd, 2024 at 7.1222

Smart Scan Analysis for BRLVES

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

-90
Smart Scan Analysis for BRLVES
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
6.6619 6.6994 6.6530 6.6890 +0.0271
Prev. Close Volume Bid Ask Time
6.6619 2024-06-21 17:05:00
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