Forex Trend Analysis Report
Prepared for you on Thursday, August 13, 2020.
US Dollar/South African Rand (FOREX:USDZAR)
Sidelines Mode (-55) - USDZAR 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 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 DOWN since Jul 21st, 2020 at 16.38951
The intermediate-term trend has been UP since Aug 2nd, 2020 at 17.10055
The short-term trend has been DOWN since Aug 11th, 2020 at 17.47755
Smart Scan Analysis for USDZAR
Based on our trend formula, USDZAR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).