Forex Trend Analysis Report
Prepared for you on Friday, January 18, 2019.
CFA Franc BCEAO/US Dollar (FOREX:XOFUSD)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend 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 XOFUSD
The long term trend has been DOWN since May 1st, 2018 at 0.001860
The intermediate term trend has been UP since Dec 20th, 2018 at 0.001739
The short term trend has been UP since Jan 7th, 2019 at 0.001747
Smart Scan Analysis for XOFUSD
Based on a pre-defined weighted trend formula for chart analysis, XOFUSD scored +70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).