Forex Trend Analysis Report
Prepared for you on Friday, August 19, 2022.
South African Rand/ (FOREX:ZARZMW)
Long-Term Downtrend (-90) - ZARZMW is in a strong downtrend that is likely to continue. While ZARZMW 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 ZARZMW?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARZMW.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZARZMW
The long-term trend has been DOWN since May 2nd, 2022 at 1.0567412
The intermediate-term trend has been DOWN since Jun 12th, 2022 at 1.0688536
The short-term trend has been DOWN since Aug 16th, 2022 at 0.9814604
Smart Scan Analysis for ZARZMW
Based on our trend formula, ZARZMW is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).