Forex Trend Analysis Report
Prepared for you on Monday, September 24, 2018.
British Pound/CFA Franc BCEAO (FOREX:GBPXOF)
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 GBPXOF
The long term trend has been DOWN since Jul 2nd, 2018 at 741.71
The intermediate term trend has been UP since Sep 9th, 2018 at 731.33
The short term trend has been DOWN since Sep 23rd, 2018 at 736.31
Smart Scan Analysis for GBPXOF
Based on a pre-defined weighted trend formula for chart analysis, GBPXOF scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).