Forex Trend Analysis Report
Prepared for you on Monday, September 25, 2023.
South African Rand/Mexican Peso (FOREX:ZARMXN)
Bull Market Weakness (+75) - ZARMXN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on ZARMXN as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid ZARMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZARMXN
The long-term trend has been DOWN since May 2nd, 2022 at 1.2746664
The intermediate-term trend has been UP since Aug 28th, 2023 at 0.9276822
The short-term trend has been UP since Sep 20th, 2023 at 0.9043800
Smart Scan Analysis for ZARMXN
Based on our trend formula, ZARMXN is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).