Forex Trend Analysis Report
Prepared for you on Thursday, February 22, 2018.
/South African Rand (FOREX:MZNZAR)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with 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 MZNZAR
The long term trend has been DOWN since Dec 18th, 2017 at 0.241995
The intermediate term trend has been DOWN since Nov 22nd, 2017 at 0.263655
The short term trend has been UP since Feb 20th, 2018 at 0.221935
Smart Scan Analysis for MZNZAR
Based on a pre-defined weighted trend formula for chart analysis, MZNZAR scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).