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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Mexican Peso/South African Rand (FOREX:MXNZAR)
Bear Market Rally (-75) - MXNZAR is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on MXNZAR as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid MXNZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNZAR.
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 MXNZAR
The long-term trend has been DOWN since Apr 18th, 2024 at 1.0775048
The intermediate-term trend has been DOWN since Apr 16th, 2024 at 1.1227113
The short-term trend has been UP since May 7th, 2024 at 1.0969844
Smart Scan Analysis for MXNZAR
Based on our trend formula, MXNZAR is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.0977950 | 1.0984111 | 1.0905189 | 1.0964550 | -0.0013400 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.0977950 | 2024-05-09 11:44:42 |