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Forex Trend Analysis Report
Prepared for you on Saturday, May 4, 2024.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Long-Term Downtrend (-90) - BRLXOF is in a strong downtrend that is likely to continue. While BRLXOF 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 BRLXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLXOF.
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 BRLXOF
The long-term trend has been DOWN since Dec 17th, 2023 at 122.13395
The intermediate-term trend has been DOWN since Feb 26th, 2024 at 121.98631
The short-term trend has been DOWN since May 1st, 2024 at 118.51289
Smart Scan Analysis for BRLXOF
Based on our trend formula, BRLXOF is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 118.37174 | 118.37174 | 118.37174 | 118.37174 | 0.00000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 120.20910 | 2024-05-01 21:07:16 |