Forex Trend Analysis Report
Prepared for you on Wednesday, September 26, 2018.
/South African Rand (FOREX:MGAZAR)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 MGAZAR
The long term trend has been UP since May 1st, 2018 at 0.003895
The intermediate term trend has been DOWN since Sep 20th, 2018 at 0.004208
The short term trend has been DOWN since Sep 10th, 2018 at 0.004435
Smart Scan Analysis for MGAZAR
Based on a pre-defined weighted trend formula for chart analysis, MGAZAR scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).