Forex Trend Analysis Report
Prepared for you on Sunday, November 29, 2020.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Sidelines Mode (+55) - BRLXOF is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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 DOWN since Sep 1st, 2019 at 145.44000
The intermediate-term trend has been UP since Nov 10th, 2020 at 99.22956
The short-term trend has been DOWN since Nov 22nd, 2020 at 103.26129
Smart Scan Analysis for BRLXOF
Based on our trend formula, BRLXOF is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).