Forex Trend Analysis Report
Prepared for you on Friday, November 24, 2017.
/South African Rand (FOREX:MZNZAR)
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 MZNZAR
The long term trend has been UP since Sep 8th, 2017 at 0.243390
The intermediate term trend has been DOWN since Nov 22nd, 2017 at 0.263655
The short term trend has been DOWN since Nov 15th, 2017 at 0.271890
Smart Scan Analysis for MZNZAR
Based on a pre-defined weighted trend formula for chart analysis, MZNZAR scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).