Forex Trend Analysis Report

Prepared for you on Tuesday, March 21, 2023.

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.

Open	High	Low	ZARXOF Price	Change
33.008643	33.106026	32.960929	33.096438	+0.087795
Entry Signal

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 Jan 16th, 2023 at 35.541534

The short-term trend has been DOWN since Mar 17th, 2023 at 33.428704

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).

-90

Strong Downtrend Sideways Strong Uptrend

Open	High	Low	Price	Change
33.008643	33.106026	32.960929	33.096438	+0.087795
Prev. Close	Volume	Bid	Ask	Time
33.008643				2023-03-21 03:54:38

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