Forex Trend Analysis Report
Prepared for you on Sunday, February 28, 2021.
Mexican Peso/South African Rand (FOREX:MXNZAR)
Countertrend Down (-85) - MXNZAR is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid MXNZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MXNZAR
The long-term trend has been DOWN since Feb 16th, 2021 at 0.7213160
The intermediate-term trend has been DOWN since Feb 9th, 2021 at 0.7340246
The short-term trend has been UP since Feb 25th, 2021 at 0.7213050
Smart Scan Analysis for MXNZAR
Based on our trend formula, MXNZAR is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).