Forex Trend Analysis Report
Prepared for you on Wednesday, October 17, 2018.
CFA Franc BCEAO/US Dollar (FOREX:XOFUSD)
Smart Scan Chart Analysis continues negative longer term. Look for this market to remain weak. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 XOFUSD
The long term trend has been DOWN since May 1st, 2018 at 0.001860
The intermediate term trend has been DOWN since Oct 2nd, 2018 at 0.001762
The short term trend has been DOWN since Sep 27th, 2018 at 0.001791
Smart Scan Analysis for XOFUSD
Based on a pre-defined weighted trend formula for chart analysis, XOFUSD scored -90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).