Forex Trend Analysis Report
Prepared for you on Thursday, December 3, 2020.
Chinese Yuan Renminbi Offshore/South African Rand (FOREX:CNHZAR)
Countertrend Down (-85) - CNHZAR is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
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 DOWN since Nov 5th, 2020 at 2.3810951
The intermediate-term trend has been DOWN since Oct 22nd, 2020 at 2.4287586
The short-term trend has been UP since Nov 30th, 2020 at 2.3337000
Smart Scan Analysis for CNHZAR
Based on our trend formula, CNHZAR is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).