Forex Trend Analysis Report
Prepared for you on Thursday, July 18, 2019.
Mexican Peso/Brazilian Real (FOREX:MXNBRL)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with 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 MXNBRL
The long term trend has been DOWN since Jul 10th, 2019 at 0.195580
The intermediate term trend has been DOWN since May 30th, 2019 at 0.204675
The short term trend has been UP since Jul 16th, 2019 at 0.198035
Smart Scan Analysis for MXNBRL
Based on a pre-defined weighted trend formula for chart analysis, MXNBRL scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).