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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
/South African Rand (FOREX:MZNZAR)
Countertrend Down (-85) - MZNZAR is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid MZNZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for MZNZAR.
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 MZNZAR
The long-term trend has been DOWN since Jul 20th, 2023 at 0.33194502
The intermediate-term trend has been DOWN since May 3rd, 2024 at 0.34908265
The short-term trend has been UP since May 8th, 2024 at 0.35203981
Smart Scan Analysis for MZNZAR
Based on our trend formula, MZNZAR is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 0.35211081 | 0.35279716 | 0.35104360 | 0.35119242 | -0.00091800 |
| Prev. Close | Volume | Bid | Ask | Time |
| 0.35211081 | 2024-05-09 06:25:28 |