Forex Trend Analysis Report
Prepared for you on Tuesday, October 23, 2018.
South African Rand/US Dollar (FOREX:ZARUSD)
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 ZARUSD
The long term trend has been DOWN since May 1st, 2018 at 0.079895
The intermediate term trend has been DOWN since Oct 9th, 2018 at 0.066451
The short term trend has been UP since Oct 10th, 2018 at 0.068724
Smart Scan Analysis for ZARUSD
Based on a pre-defined weighted trend formula for chart analysis, ZARUSD scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).