Free Daily Analysis
Forex Trend Analysis Report
Prepared for you on Wednesday, May 1, 2024.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Bull Market Weakness (+75) - USDXOF is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDXOF as it may be in the beginning stages of a reversal.
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.
|
|||||||||||||||
|
|||||||||||||||
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 UP since Mar 28th, 2024 at 604.56588
The short-term trend has been UP since May 1st, 2024 at 612.95800
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 614.73877 | 614.73877 | 610.50000 | 610.50000 | -4.23877 |
| Prev. Close | Volume | Bid | Ask | Time |
| 614.73877 | 2024-05-01 17:11:58 |