Forex Trend Analysis Report
Prepared for you on Sunday, September 24, 2023.
Peruvian Nuevo Sol/Brazilian Real (FOREX:PENBRL)
Sidelines Mode (+55) - PENBRL 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 PENBRL?
MarketClub looks at technical strength and momentum to determine if the timing is right for PENBRL.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for PENBRL
The long-term trend has been UP since Nov 10th, 2022 at 1.3865255
The intermediate-term trend has been DOWN since Sep 14th, 2023 at 1.3084945
The short-term trend has been UP since Sep 20th, 2023 at 1.3132275
Smart Scan Analysis for PENBRL
Based on our trend formula, PENBRL is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).