Forex Trend Analysis Report
Prepared for you on Friday, October 18, 2019.
US Dollar/South African Rand (FOREX:USDZAR)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for USDZAR
The long term trend has been UP since Aug 8th, 2019 at 15.1720
The intermediate term trend has been DOWN since Oct 13th, 2019 at 14.8185
The short term trend has been UP since Oct 16th, 2019 at 14.8993
Smart Scan Analysis for USDZAR
Based on a pre-defined weighted trend formula for chart analysis, USDZAR scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).