Forex Trend Analysis Report
Prepared for you on Tuesday, April 20, 2021.
Mexican Peso/South African Rand (FOREX:MXNZAR)
Bear Market Rally (-75) - MXNZAR is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on MXNZAR as it may be in the beginning of a reversal.
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.
MarketClub’s Trade Triangles for MXNZAR
The long-term trend has been DOWN since Feb 16th, 2021 at 0.7213160
The intermediate-term trend has been DOWN since Apr 15th, 2021 at 0.7108103
The short-term trend has been UP since Apr 19th, 2021 at 0.7197696
Smart Scan Analysis for MXNZAR
Based on our trend formula, MXNZAR is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).