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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.

FOREX_ZARNGN
Open High Low ZARNGN Price Change
23.525855 23.780383 23.506313 23.700121 +0.174266
Entry Signal

MarketClub’s Trade Triangles for ZARNGN

long term down The long-term trend has been DOWN since Mar 7th, 2023 at 24.707547

intermediate term down The intermediate-term trend has been DOWN since May 9th, 2023 at 24.908361

short term up 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).

-85
Smart Scan Analysis for ZARNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
23.525855 23.780383 23.506313 23.700121 +0.174266
Prev. Close Volume Bid Ask Time
23.525855 2023-06-02 10:23:20
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