Forex Trend Analysis Report
Prepared for you on Monday, February 18, 2019.
South African Rand/Chinese Renminbi Yuan (FOREX:ZARCNY)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend 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 ZARCNY
The long term trend has been DOWN since Apr 23rd, 2018 at 0.51800
The intermediate term trend has been DOWN since Feb 13th, 2019 at 0.48582
The short term trend has been UP since Feb 11th, 2019 at 0.49787
Smart Scan Analysis for ZARCNY
Based on a pre-defined weighted trend formula for chart analysis, ZARCNY scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).