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Forex Trend Analysis Report

Prepared for you on Saturday, May 30, 2020.

/South African Rand (FOREX:MGAZAR)

Sidelines Mode (-55) - MGAZAR 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 MGAZAR?

MarketClub looks at technical strength and momentum to determine if the timing is right for MGAZAR.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_MGAZAR
Open High Low MGAZAR Price Change
0.00460188 0.00465598 0.00456844 0.00463008 +0.00002800
Entry Signal

MarketClub’s Trade Triangles for MGAZAR

long term up The long-term trend has been UP since Jan 27th, 2020 at 0.00779406

intermediate term down The intermediate-term trend has been DOWN since Apr 30th, 2020 at 0.00472645

short term up The short-term trend has been UP since May 29th, 2020 at 0.00461346

Smart Scan Analysis for MGAZAR

Based on our trend formula, MGAZAR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for MGAZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00460188 0.00465598 0.00456844 0.00463008 +0.00002800
Prev. Close Volume Bid Ask Time
0.00460188 0.00462876 0.00463140 2020-05-29 17:18:37
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