Forex Trend Analysis Report
Prepared for you on Monday, October 18, 2021.
Malagasy Ariary/South African Rand (FOREX:MGAZAR)
Long-Term Downtrend (-90) - MGAZAR is in a strong downtrend that is likely to continue. While MGAZAR is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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.
MarketClub’s Trade Triangles for MGAZAR
The long-term trend has been DOWN since May 10th, 2021 at 0.00371930
The intermediate-term trend has been DOWN since Oct 17th, 2021 at 0.00368709
The short-term trend has been DOWN since Oct 12th, 2021 at 0.00377530
Smart Scan Analysis for MGAZAR
Based on our trend formula, MGAZAR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).