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Forex Trend Analysis Report

Prepared for you on Monday, May 27, 2024.

/South African Rand (FOREX:MZNZAR)

Sidelines Mode (-55) - MZNZAR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.

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

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

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

FOREX_MZNZAR
Open High Low MZNZAR Price Change
0.34903886 0.35009953 0.34823033 0.34886445 -0.00017400
Entry Signal

MarketClub’s Trade Triangles for MZNZAR

long term down The long-term trend has been DOWN since Jul 20th, 2023 at 0.33194502

intermediate term down The intermediate-term trend has been DOWN since May 3rd, 2024 at 0.34908265

short term up The short-term trend has been UP since May 22nd, 2024 at 0.34681801

Smart Scan Analysis for MZNZAR

Based on our trend formula, MZNZAR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for MZNZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.34903886 0.35009953 0.34823033 0.34886445 -0.00017400
Prev. Close Volume Bid Ask Time
0.34903886 2024-05-27 09:06:35
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