Forex Trend Analysis Report
Prepared for you on Thursday, November 30, 2023.
South African Rand/CFA Franc BCEAO (FOREX:ZARXOF)
Crossroads (-60) - ZARXOF is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
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 UP since Nov 1st, 2023 at 33.377876
The intermediate-term trend has been DOWN since Nov 20th, 2023 at 32.600282
The short-term trend has been DOWN since Nov 30th, 2023 at 31.800516
Smart Scan Analysis for ZARXOF
Based on our trend formula, ZARXOF is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).