Forex Trend Analysis Report
Prepared for you on Wednesday, August 10, 2022.
Mexican Peso/South African Rand (FOREX:MXNZAR)
Sidelines Mode (+55) - MXNZAR 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 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 UP since May 2nd, 2022 at 0.7845190
The intermediate-term trend has been DOWN since Aug 1st, 2022 at 0.8096189
The short-term trend has been UP since Aug 3rd, 2022 at 0.8182179
Smart Scan Analysis for MXNZAR
Based on our trend formula, MXNZAR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).