Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
South African Rand/Mexican Peso (FOREX:ZARMXN)
Bear Market Rally (-75) - ZARMXN is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on ZARMXN as it may be in the beginning 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 Jul 13th, 2021 at 1.3753300
The intermediate-term trend has been UP since Oct 12th, 2021 at 1.3904750
The short-term trend has been DOWN since Oct 21st, 2021 at 1.3837503
Smart Scan Analysis for ZARMXN
Based on our trend formula, ZARMXN is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).