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Forex Trend Analysis Report
Prepared for you on Saturday, September 30, 2023.
South African Rand/Malagasy Ariary (FOREX:ZARMGA)
Long-Term Downtrend (-90) - ZARMGA is in a strong downtrend that is likely to continue. While ZARMGA 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 ZARMGA?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARMGA.
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 ZARMGA
The long-term trend has been DOWN since Aug 22nd, 2023 at 122.53043
The intermediate-term trend has been DOWN since Sep 21st, 2023 at 226.72052
The short-term trend has been DOWN since Sep 26th, 2023 at 238.86790
Smart Scan Analysis for ZARMGA
Based on our trend formula, ZARMGA is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 239.45838 | 242.23347 | 238.40751 | 238.94840 | -0.50998 |
| Prev. Close | Volume | Bid | Ask | Time |
| 239.45838 | 2023-09-29 17:08:24 |