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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Chinese Yuan Renminbi Offshore/South African Rand (FOREX:CNHZAR)
Sidelines Mode (+55) - CNHZAR 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 CNHZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for CNHZAR
The long-term trend has been UP since Feb 11th, 2024 at 67.5077900
The intermediate-term trend has been DOWN since May 6th, 2024 at 2.5590940
The short-term trend has been UP since May 8th, 2024 at 2.5786781
Smart Scan Analysis for CNHZAR
Based on our trend formula, CNHZAR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 2.5698174 | 2.5740397 | 2.5521830 | 2.5595954 | -0.0102220 |
| Prev. Close | Volume | Bid | Ask | Time |
| 2.5698174 | 2024-05-09 14:05:46 |