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Forex Trend Analysis Report

Prepared for you on Thursday, June 8, 2023.

Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)

Countertrend Up (+85) - BRLXOF is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.

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.

FOREX_BRLXOF
Open High Low BRLXOF Price Change
124.60716 124.60716 124.60716 124.60716 0.00000
Entry Signal

MarketClub’s Trade Triangles for BRLXOF

long term up The long-term trend has been UP since Mar 8th, 2023 at 120.41211

intermediate term up The intermediate-term trend has been UP since May 11th, 2023 at 121.52424

short term up The short-term trend has been UP since Jun 5th, 2023 at 122.58129

Smart Scan Analysis for BRLXOF

Based on our trend formula, BRLXOF is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+80
Smart Scan Analysis for BRLXOF
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
124.60716 124.60716 124.60716 124.60716 0.00000
Prev. Close Volume Bid Ask Time
124.39213 2023-06-06 07:26:57
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