Forex Trend Analysis Report
Prepared for you on Tuesday, August 9, 2022.
South African Rand/Nigerian Naira (FOREX:ZARNGN)
Crossroads (+60) - ZARNGN is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
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 DOWN since May 2nd, 2022 at 25.747479
The intermediate-term trend has been UP since Aug 8th, 2022 at 25.457929
The short-term trend has been UP since Aug 8th, 2022 at 25.201917
Smart Scan Analysis for ZARNGN
Based on our trend formula, ZARNGN is rated as a +60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).