Forex Trend Analysis Report
Prepared for you on Saturday, September 23, 2023.
South African Rand/Special drawing rights (FOREX:ZARXDR)
Sidelines Mode (+55) - ZARXDR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid ZARXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZARXDR
The long-term trend has been UP since Jul 20th, 2023 at 0.04148692
The intermediate-term trend has been DOWN since Sep 5th, 2023 at 0.03939822
The short-term trend has been UP since Sep 11th, 2023 at 0.03939765
Smart Scan Analysis for ZARXDR
Based on our trend formula, ZARXDR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).