Forex Trend Analysis Report
Prepared for you on Monday, October 14, 2019.
/South African Rand (FOREX:MGAZAR)
Smart Scan Chart Analysis indicates a counter trend rally is underway The current up-trend could be changing and moving into a trading range Sidelines Mode.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for MGAZAR
The long term trend has been UP since Aug 9th, 2019 at 0.004155
The intermediate term trend has been UP since Oct 1st, 2019 at 0.004076
The short term trend has been DOWN since Oct 11th, 2019 at 0.004049
Smart Scan Analysis for MGAZAR
Based on a pre-defined weighted trend formula for chart analysis, MGAZAR scored +55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).