Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
/CFA Franc BCEAO (FOREX:LRDXOF)
Countertrend Up (+85) - LRDXOF 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 LRDXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for LRDXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for LRDXOF
The long-term trend has been UP since Jul 4th, 2021 at 3.2278171
The intermediate-term trend has been UP since Sep 21st, 2021 at 3.2526256
The short-term trend has been UP since Sep 9th, 2021 at 3.2248021
Smart Scan Analysis for LRDXOF
Based on our trend formula, LRDXOF is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).