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Forex Trend Analysis Report

Prepared for you on Friday, June 21, 2024.

Mexican Peso/Brazilian Real (FOREX:MXNBRL)

Sidelines Mode (-55) - MXNBRL is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.

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

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

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

FOREX_MXNBRL
Open High Low MXNBRL Price Change
0.29379831 0.29828772 0.29253001 0.29742408 +0.00362600
Entry Signal

MarketClub’s Trade Triangles for MXNBRL

long term down The long-term trend has been DOWN since Jun 4th, 2024 at 0.29070316

intermediate term down The intermediate-term trend has been DOWN since Jun 3rd, 2024 at 0.30381760

short term up The short-term trend has been UP since Jun 13th, 2024 at 0.29322298

Smart Scan Analysis for MXNBRL

Based on our trend formula, MXNBRL is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for MXNBRL
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.29379831 0.29828772 0.29253001 0.29742408 +0.00362600
Prev. Close Volume Bid Ask Time
0.29756897 2024-06-20 15:57:27
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