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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
South African Rand/CFA Franc BCEAO (FOREX:ZARXOF)
Countertrend Up (+85) - ZARXOF is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid ZARXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARXOF.
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 ZARXOF
The long-term trend has been UP since Apr 8th, 2024 at 32.586884
The intermediate-term trend has been UP since May 1st, 2024 at 32.918507
The short-term trend has been DOWN since May 7th, 2024 at 32.851498
Smart Scan Analysis for ZARXOF
Based on our trend formula, ZARXOF is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 32.855826 | 33.005464 | 32.810377 | 32.927852 | +0.072026 |
| Prev. Close | Volume | Bid | Ask | Time |
| 32.855826 | 2024-05-09 06:01:32 |