Forex Trend Analysis Report
Prepared for you on Friday, June 2, 2023.
South African Rand/Nigerian Naira (FOREX:ZARNGN)
Countertrend Down (-85) - ZARNGN is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
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 Mar 7th, 2023 at 24.707547
The intermediate-term trend has been DOWN since May 9th, 2023 at 24.908361
The short-term trend has been UP since Jun 2nd, 2023 at 23.666083
Smart Scan Analysis for ZARNGN
Based on our trend formula, ZARNGN is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).