Forex Trend Analysis Report
Prepared for you on Sunday, August 25, 2019.
South African Rand/Ethiopian Birr (FOREX:ZARETB)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with 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 ZARETB
The long term trend has been DOWN since Aug 12th, 2019 at 1.8947
The intermediate term trend has been DOWN since Aug 1st, 2019 at 1.9801
The short term trend has been UP since Aug 21st, 2019 at 1.9201
Smart Scan Analysis for ZARETB
Based on a pre-defined weighted trend formula for chart analysis, ZARETB scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).