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.
MarketClub’s Trade Triangles for BRLXOF
The long-term trend has been UP since Mar 8th, 2023 at 120.41211
The intermediate-term trend has been UP since May 11th, 2023 at 121.52424
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).