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Forex Trend Analysis Report

Prepared for you on Thursday, May 23, 2024.

Turkish Lira/Mexican Peso (FOREX:TRYMXN)

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

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

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

FOREX_TRYMXN
Open High Low TRYMXN Price Change
0.51715 0.51790 0.51680 0.51740 +0.00025
Entry Signal

MarketClub’s Trade Triangles for TRYMXN

long term down The long-term trend has been DOWN since Nov 3rd, 2023 at 0.6158

intermediate term down The intermediate-term trend has been DOWN since May 15th, 2024 at 0.5181

short term down The short-term trend has been DOWN since May 22nd, 2024 at 0.5130

Smart Scan Analysis for TRYMXN

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

-90
Smart Scan Analysis for TRYMXN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.51715 0.51790 0.51680 0.51740 +0.00025
Prev. Close Volume Bid Ask Time
0.51715 2024-05-23 03:15:45
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