Forex Trend Analysis Report
Prepared for you on Friday, December 1, 2023.
Chinese Yuan Renminbi Offshore/South African Rand (FOREX:CNHZAR)
Strong Uptrend (+100) - CNHZAR is in a strong uptrend that is likely to continue. With short-term, intermediate, and long-term bullish momentum, CNHZAR continues to climb. Traders should protect gains and look for a change in score to suggest a slow down in momentum.
Is it time to buy, sell, or avoid CNHZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHZAR
The long-term trend has been UP since Nov 19th, 2023 at 2.6984091
The intermediate-term trend has been UP since Nov 19th, 2023 at 2.5851313
The short-term trend has been UP since Nov 30th, 2023 at 2.6349729
Smart Scan Analysis for CNHZAR
Based on our trend formula, CNHZAR is rated as a +100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).