Forex Trend Analysis Report
Prepared for you on Wednesday, November 14, 2018.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 USDXOF
The long term trend has been UP since May 1st, 2018 at 543.5
The intermediate term trend has been UP since Oct 23rd, 2018 at 575.0
The short term trend has been UP since Nov 8th, 2018 at 579.0
Smart Scan Analysis for USDXOF
Based on a pre-defined weighted trend formula for chart analysis, USDXOF scored +80 on a scale from -100 (strong downtrend) to +100 (strong uptrend).