Forex Trend Analysis Report
Prepared for you on Saturday, October 23, 2021.
South African Rand/Nigerian Naira (FOREX:ZARNGN)
Bull Market Weakness (+75) - ZARNGN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on ZARNGN as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid ZARNGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARNGN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZARNGN
The long-term trend has been UP since Jul 21st, 2020 at 23.673681
The intermediate-term trend has been UP since Oct 19th, 2021 at 28.251029
The short-term trend has been DOWN since Oct 22nd, 2021 at 27.949693
Smart Scan Analysis for ZARNGN
Based on our trend formula, ZARNGN is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).