Forex Trend Analysis Report
Prepared for you on Sunday, December 10, 2023.
Mexican Peso/South African Rand (FOREX:MXNZAR)
Bull Market Weakness (+75) - MXNZAR is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on MXNZAR as it may be in the beginning stages of a reversal.
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 UP since Nov 8th, 2023 at 1.0582932
The short-term trend has been DOWN since Dec 7th, 2023 at 1.0724165
Smart Scan Analysis for MXNZAR
Based on our trend formula, MXNZAR is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).