Forex Trend Analysis Report
Prepared for you on Thursday, August 18, 2022.
South African Rand/Mexican Peso (FOREX:ZARMXN)
Strong Downtrend (-100) - ZARMXN is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, ZARMXN continues to fall. Traders should use caution and set stops.
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 DOWN since Aug 15th, 2022 at 1.2052830
The short-term trend has been DOWN since Aug 15th, 2022 at 1.2187563
Smart Scan Analysis for ZARMXN
Based on our trend formula, ZARMXN is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).