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Forex Trend Analysis Report

Prepared for you on Saturday, May 18, 2024.

Mexican Peso/South African Rand (FOREX:MXNZAR)

Strong Downtrend (-100) - MXNZAR is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, MXNZAR continues to fall. Traders should use caution and set stops.

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

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

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

FOREX_MXNZAR
Open High Low MXNZAR Price Change
1.0899752 1.0965115 1.0878799 1.0936544 +0.0036790
Entry Signal

MarketClub’s Trade Triangles for MXNZAR

long term down The long-term trend has been DOWN since Apr 18th, 2024 at 1.0775048

intermediate term down The intermediate-term trend has been DOWN since Apr 16th, 2024 at 1.1227113

short term down The short-term trend has been DOWN since May 13th, 2024 at 1.0905189

Smart Scan Analysis for MXNZAR

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

-100
Smart Scan Analysis for MXNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.0899752 1.0965115 1.0878799 1.0936544 +0.0036790
Prev. Close Volume Bid Ask Time
1.0882620 2024-05-17 17:00:33
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