Forex Trend Analysis Report
Prepared for you on Tuesday, October 16, 2018.
South African Rand/Canadian Dollar (FOREX:ZARCAD)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 ZARCAD
The long term trend has been DOWN since May 1st, 2018 at 0.102315
The intermediate term trend has been DOWN since Oct 9th, 2018 at 0.086560
The short term trend has been UP since Oct 10th, 2018 at 0.088932
Smart Scan Analysis for ZARCAD
Based on a pre-defined weighted trend formula for chart analysis, ZARCAD scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).