Forex Trend Analysis Report
Prepared for you on Tuesday, October 3, 2023.
South African Rand/ (FOREX:ZARZMW)
Sidelines Mode (+55) - ZARZMW is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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 UP since Sep 11th, 2023 at 1.1074464
The intermediate-term trend has been UP since Aug 27th, 2023 at 1.0612183
The short-term trend has been DOWN since Sep 27th, 2023 at 1.1040399
Smart Scan Analysis for ZARZMW
Based on our trend formula, ZARZMW is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).