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Forex Trend Analysis Report
Prepared for you on Tuesday, August 16, 2022.
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.
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MarketClub’s Trade Triangles for BRLXOF
The long-term trend has been UP since Jan 20th, 2022 at 104.90109
The intermediate-term trend has been UP since Aug 1st, 2022 at 121.46002
The short-term trend has been UP since Aug 1st, 2022 at 121.46002
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).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 126.89229 | 126.89229 | 126.89229 | 126.89229 | 0.00000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 126.89229 | 2022-08-16 07:16:45 |