Forex Trend Analysis Report
Prepared for you on Tuesday, January 28, 2020.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend 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 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 Jan 24th, 2020 at 141.41881
Smart Scan Analysis for BRLXOF
Based on a pre-defined weighted trend formula for chart analysis, BRLXOF scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).