Forex Trend Analysis Report
Prepared for you on Sunday, February 17, 2019.
/South African Rand (FOREX:MZNZAR)
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 MZNZAR
The long term trend has been DOWN since Dec 3rd, 2018 at 0.258000
The intermediate term trend has been UP since Feb 13th, 2019 at 0.265115
The short term trend has been UP since Feb 4th, 2019 at 0.253715
Smart Scan Analysis for MZNZAR
Based on a pre-defined weighted trend formula for chart analysis, MZNZAR scored +70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).