Forex Trend Analysis Report
Prepared for you on Tuesday, November 20, 2018.
Australian Dollar/South African Rand (FOREX:AUDZAR)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for AUDZAR
The long term trend has been UP since May 18th, 2018 at 9.6072
The intermediate term trend has been DOWN since Sep 24th, 2018 at 10.3495
The short term trend has been DOWN since Nov 14th, 2018 at 10.3255
Smart Scan Analysis for AUDZAR
Based on a pre-defined weighted trend formula for chart analysis, AUDZAR scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).