Forex Trend Analysis Report
Prepared for you on Saturday, December 7, 2019.
/South African Rand (FOREX:MGAZAR)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend with tight money management stops.
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 0.00415500
The intermediate term trend has been UP since Nov 25th, 2019 at 0.00408443
The short term trend has been DOWN since Nov 27th, 2019 at 0.00400284
Smart Scan Analysis for MGAZAR
Based on a pre-defined weighted trend formula for chart analysis, MGAZAR scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).