Forex Trend Analysis Report
Prepared for you on Thursday, April 18, 2019.
South African Rand/ (FOREX:ZARMGA)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 ZARMGA
The long term trend has been DOWN since Dec 6th, 2018 at 125.280
The intermediate term trend has been UP since Apr 1st, 2019 at 251.165
The short term trend has been DOWN since Apr 12th, 2019 at 254.740
Smart Scan Analysis for ZARMGA
Based on a pre-defined weighted trend formula for chart analysis, ZARMGA scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).