Forex Trend Analysis Report
Prepared for you on Wednesday, July 17, 2019.
/South African Rand (FOREX:MZNZAR)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 Jul 11th, 2019 at 0.262985
The intermediate term trend has been DOWN since Jun 19th, 2019 at 0.272715
The short term trend has been DOWN since Jul 10th, 2019 at 0.267410
Smart Scan Analysis for MZNZAR
Based on a pre-defined weighted trend formula for chart analysis, MZNZAR scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).