Forex Trend Analysis Report
Prepared for you on Sunday, February 28, 2021.
South African Rand/Special drawing rights (FOREX:ZARXDR)
Countertrend Up (+85) - ZARXDR is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
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 Sep 18th, 2020 at 0.04368512
The intermediate-term trend has been UP since Feb 9th, 2021 at 0.04688433
The short-term trend has been UP since Feb 23rd, 2021 at 0.04754110
Smart Scan Analysis for ZARXDR
Based on our trend formula, ZARXDR is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).