Forex Trend Analysis Report
Prepared for you on Tuesday, March 9, 2021.
Chinese Yuan Renminbi Offshore/South African Rand (FOREX:CNHZAR)
Long-Term Uptrend (+90) - CNHZAR is in a strong uptrend that is likely to continue. While CNHZAR is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
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 Feb 7th, 2021 at 2.4406564
The intermediate-term trend has been UP since Mar 8th, 2021 at 2.3665638
The short-term trend has been UP since Feb 25th, 2021 at 2.3060639
Smart Scan Analysis for CNHZAR
Based on our trend formula, CNHZAR is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).