Forex Trend Analysis Report
Prepared for you on Thursday, March 30, 2023.
/South African Rand (FOREX:ZMWZAR)
Long-Term Downtrend (-90) - ZMWZAR is in a strong downtrend that is likely to continue. While ZMWZAR 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 ZMWZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZMWZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZMWZAR
The long-term trend has been DOWN since Nov 25th, 2022 at 1.0007159
The intermediate-term trend has been DOWN since Mar 6th, 2023 at 0.9050245
The short-term trend has been DOWN since Mar 7th, 2023 at 0.9037443
Smart Scan Analysis for ZMWZAR
Based on our trend formula, ZMWZAR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).