Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
Chinese Yuan Renminbi/South African Rand (FOREX:CNYZAR)
Long-Term Uptrend (+90) - CNYZAR is in a strong uptrend that is likely to continue. While CNYZAR is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
Is it time to buy, sell, or avoid CNYZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYZAR
The long-term trend has been UP since Oct 4th, 2023 at 2.6988315
The intermediate-term trend has been UP since Nov 20th, 2023 at 2.6295584
The short-term trend has been UP since Nov 30th, 2023 at 2.6923145
Smart Scan Analysis for CNYZAR
Based on our trend formula, CNYZAR is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).