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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
Euro/South African Rand (FOREX:EURZAR)
Countertrend Down (-85) - EURZAR 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 EURZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURZAR.
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 EURZAR
The long-term trend has been DOWN since Apr 8th, 2024 at 20.128935
The intermediate-term trend has been DOWN since May 1st, 2024 at 19.926695
The short-term trend has been UP since May 7th, 2024 at 19.967500
Smart Scan Analysis for EURZAR
Based on our trend formula, EURZAR is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 19.919325 | 20.070305 | 19.894065 | 20.001375 | +0.082050 |
| Prev. Close | Volume | Bid | Ask | Time |
| 19.919325 | 2024-05-08 11:24:27 |