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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.
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MarketClub’s Trade Triangles for MGAZAR
The long-term trend has been UP since Jan 27th, 2020 at 0.00779406
The intermediate-term trend has been DOWN since Apr 30th, 2020 at 0.00472645
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).
| 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 |