Forex Trend Analysis Report
Prepared for you on Tuesday, June 18, 2019.
South African Rand/CFA Franc BCEAO (FOREX:ZARXOF)
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 ZARXOF
The long term trend has been DOWN since May 29th, 2019 at 39.6235
The intermediate term trend has been DOWN since Apr 25th, 2019 at 40.5880
The short term trend has been UP since Jun 11th, 2019 at 39.2415
Smart Scan Analysis for ZARXOF
Based on a pre-defined weighted trend formula for chart analysis, ZARXOF scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).