Forex Trend Analysis Report
Prepared for you on Thursday, July 7, 2022.
South African Rand/CFA Franc BCEAO (FOREX:ZARXOF)
Long-Term Downtrend (-90) - ZARXOF is in a strong downtrend that is likely to continue. While ZARXOF is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid ZARXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZARXOF
The long-term trend has been DOWN since Jul 1st, 2022 at 38.202029
The intermediate-term trend has been DOWN since Jun 28th, 2022 at 38.721953
The short-term trend has been DOWN since Jul 6th, 2022 at 38.403012
Smart Scan Analysis for ZARXOF
Based on our trend formula, ZARXOF is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).