Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
Chinese Yuan Renminbi/CFA Franc BCEAO (FOREX:CNYXOF)
Countertrend Up (+85) - CNYXOF 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 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 UP since Oct 14th, 2020 at 82.96007
The intermediate-term trend has been UP since Sep 16th, 2021 at 86.25565
The short-term trend has been UP since Sep 9th, 2021 at 85.82342
Smart Scan Analysis for CNYXOF
Based on our trend formula, CNYXOF is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).