Forex Trend Analysis Report
Prepared for you on Thursday, January 17, 2019.
Mexican Peso/South African Rand (FOREX:MXNZAR)
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 MXNZAR
The long term trend has been DOWN since Nov 7th, 2018 at 0.708875
The intermediate term trend has been UP since Dec 10th, 2018 at 0.700860
The short term trend has been DOWN since Jan 16th, 2019 at 0.722290
Smart Scan Analysis for MXNZAR
Based on a pre-defined weighted trend formula for chart analysis, MXNZAR scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).