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Forex Trend Analysis Report
Prepared for you on Thursday, November 21, 2024.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Sidelines Mode (+50) - BRLXOF is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until BRLXOF can gain momentum.
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 DOWN since Dec 17th, 2023 at 122.13395
The intermediate-term trend has been UP since Nov 19th, 2024 at 106.85775
The short-term trend has been UP since Nov 19th, 2024 at 106.85775
Smart Scan Analysis for BRLXOF
Based on our trend formula, BRLXOF is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 107.77358 | 107.77358 | 107.77358 | 107.77358 | 0.00000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 107.77358 | 2024-11-20 19:11:55 |