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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.

FOREX_CNYZAR
Open High Low CNYZAR Price Change
2.6347993 2.6642324 2.6256462 2.6422830 +0.0074840
Entry Signal

MarketClub’s Trade Triangles for CNYZAR

long term up The long-term trend has been UP since Oct 4th, 2023 at 2.6988315

intermediate term up The intermediate-term trend has been UP since Nov 20th, 2023 at 2.6295584

short term up 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).

+90
Smart Scan Analysis for CNYZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
2.6347993 2.6642324 2.6256462 2.6422830 +0.0074840
Prev. Close Volume Bid Ask Time
2.6347993 2023-12-08 10:57:21
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