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Forex Trend Analysis Report
Prepared for you on Tuesday, May 7, 2024.
/South African Rand (FOREX:MZNZAR)
Long-Term Downtrend (-90) - MZNZAR is in a strong downtrend that is likely to continue. While MZNZAR is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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.
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MarketClub’s Trade Triangles for MZNZAR
The long-term trend has been DOWN since Jul 20th, 2023 at 0.33194502
The intermediate-term trend has been DOWN since May 3rd, 2024 at 0.34908265
The short-term trend has been DOWN since Apr 25th, 2024 at 0.36150389
Smart Scan Analysis for MZNZAR
Based on our trend formula, MZNZAR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 0.35070521 | 0.35190332 | 0.34947204 | 0.35158673 | +0.00088200 |
| Prev. Close | Volume | Bid | Ask | Time |
| 0.35070521 | 2024-05-07 21:47:11 |