Forex Trend Analysis Report
Prepared for you on Saturday, April 1, 2023.
South African Rand/Mexican Peso (FOREX:ZARMXN)
Bear Market Rally (-75) - ZARMXN is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on ZARMXN as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid ZARMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZARMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZARMXN
The long-term trend has been DOWN since May 2nd, 2022 at 1.2746664
The intermediate-term trend has been UP since Mar 13th, 2023 at 1.0204600
The short-term trend has been DOWN since Mar 30th, 2023 at 0.9980250
Smart Scan Analysis for ZARMXN
Based on our trend formula, ZARMXN is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).