Forex Trend Analysis Report

Prepared for you on Thursday, May 9, 2024.

Omani Rial/South African Rand (FOREX:OMRZAR)

Bear Market Rally (-75) - OMRZAR is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on OMRZAR as it may be in the beginning of a reversal.

Is it time to buy, sell, or avoid OMRZAR?

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

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

Open	High	Low	OMRZAR Price	Change
48.248042	48.346042	48.101932	48.248913	+0.000871
Entry Signal

MarketClub’s Trade Triangles for OMRZAR

The long-term trend has been DOWN since Dec 21st, 2023 at 46.638784

The intermediate-term trend has been DOWN since May 3rd, 2024 at 47.831941

The short-term trend has been UP since May 8th, 2024 at 48.250747

Smart Scan Analysis for OMRZAR

Based on our trend formula, OMRZAR is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-75

Strong Downtrend Sideways Strong Uptrend

Open	High	Low	Price	Change
48.248042	48.346042	48.101932	48.248913	+0.000871
Prev. Close	Volume	Bid	Ask	Time
48.248042				2024-05-09 05:40:57

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