Forex Trend Analysis Report
Prepared for you on Tuesday, January 21, 2020.
South African Rand/Canadian Dollar (FOREX:ZARCAD)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
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 ZARCAD
The long term trend has been UP since Dec 2nd, 2019 at 0.0913450
The intermediate term trend has been DOWN since Jan 6th, 2020 at 0.0903825
The short term trend has been DOWN since Jan 13th, 2020 at 0.0908400
Smart Scan Analysis for ZARCAD
Based on a pre-defined weighted trend formula for chart analysis, ZARCAD scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).