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Forex Trend Analysis Report

Prepared for you on Tuesday, May 28, 2024.

Malagasy Ariary/South African Rand (FOREX:MGAZAR)

Bear Market Rally (-75) - MGAZAR is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on MGAZAR as it may be in the beginning of a reversal.

Is it time to buy, sell, or avoid MGAZAR?

MarketClub looks at technical strength and momentum to determine if the timing is right for MGAZAR.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_MGAZAR
Open High Low MGAZAR Price Change
0.00413816 0.00810668 0.00409421 0.00410201 -0.00003600
Entry Signal

MarketClub’s Trade Triangles for MGAZAR

long term down The long-term trend has been DOWN since May 21st, 2024 at 0.00408094

intermediate term up The intermediate-term trend has been UP since May 28th, 2024 at 0.00421149

short term down The short-term trend has been DOWN since May 28th, 2024 at 0.00412230

Smart Scan Analysis for MGAZAR

Based on our trend formula, MGAZAR is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-75
Smart Scan Analysis for MGAZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00413816 0.00810668 0.00409421 0.00410201 -0.00003600
Prev. Close Volume Bid Ask Time
0.00413816 2024-05-28 21:58:03
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