Forex Trend Analysis Report
Prepared for you on Wednesday, February 24, 2021.
US Dollar/South African Rand (FOREX:USDZAR)
Weak Downtrend (-65) - USDZAR is showing signs of a strengthening downtrend. Monitor USDZAR as it may be building momentum to the downside.
Is it time to buy, sell, or avoid USDZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDZAR
The long-term trend has been UP since Feb 5th, 2021 at 16.42934
The intermediate-term trend has been DOWN since Feb 9th, 2021 at 14.77330
The short-term trend has been DOWN since Feb 23rd, 2021 at 14.52510
Smart Scan Analysis for USDZAR
Based on our trend formula, USDZAR is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).