Forex Trend Analysis Report
Prepared for you on Friday, February 26, 2021.
Chinese Yuan Renminbi/South African Rand (FOREX:CNYZAR)
Sidelines Mode (-55) - CNYZAR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CNYZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYZAR
The long-term trend has been DOWN since Nov 4th, 2020 at 2.3792834
The intermediate-term trend has been DOWN since Feb 9th, 2021 at 2.2858967
The short-term trend has been UP since Feb 25th, 2021 at 2.3076206
Smart Scan Analysis for CNYZAR
Based on our trend formula, CNYZAR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).