Forex Trend Analysis Report
Prepared for you on Wednesday, June 20, 2018.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight money management stops.
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 BRLXOF
The long term trend has been DOWN since Apr 19th, 2017 at 194.93
The intermediate term trend has been DOWN since May 13th, 2018 at 154.68
The short term trend has been UP since Jun 10th, 2018 at 149.65
Smart Scan Analysis for BRLXOF
Based on a pre-defined weighted trend formula for chart analysis, BRLXOF scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).