Forex Trend Analysis Report
Prepared for you on Thursday, April 9, 2020.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Bear Market Rally (-75) - BRLXOF is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on BRLXOF as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid BRLXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BRLXOF
The long-term trend has been DOWN since Sep 1st, 2019 at 145.44000
The intermediate-term trend has been DOWN since Jan 20th, 2020 at 144.27418
The short-term trend has been UP since Apr 8th, 2020 at 115.42645
Smart Scan Analysis for BRLXOF
Based on our trend formula, BRLXOF is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).