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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Crossroads (-60) - USDXOF is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid USDXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDXOF.
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 USDXOF
The long-term trend has been UP since Apr 12th, 2024 at 612.60308
The intermediate-term trend has been DOWN since May 6th, 2024 at 610.50000
The short-term trend has been DOWN since May 6th, 2024 at 610.50000
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 610.38277 | 610.59015 | 608.50000 | 610.59015 | +0.20738 |
| Prev. Close | Volume | Bid | Ask | Time |
| 610.38277 | 2024-05-08 21:02:49 |