Forex Trend Analysis Report
Prepared for you on Wednesday, September 27, 2023.
Chinese Yuan Renminbi/CFA Franc BCEAO (FOREX:CNYXOF)
Crossroads (-60) - CNYXOF is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CNYXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYXOF
The long-term trend has been DOWN since Oct 5th, 2022 at 93.73760
The intermediate-term trend has been UP since Jul 28th, 2023 at 83.57205
The short-term trend has been UP since Aug 25th, 2023 at 83.86481
Smart Scan Analysis for CNYXOF
Based on our trend formula, CNYXOF is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).