Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
US Dollar/CFA Franc BEAC (FOREX:USDXAF)
Sidelines Mode (+55) - USDXAF 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 USDXAF?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDXAF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDXAF
The long-term trend has been UP since Sep 21st, 2023 at 613.62027
The intermediate-term trend has been DOWN since Oct 24th, 2023 at 621.59816
The short-term trend has been UP since Dec 2nd, 2023 at 601.89757
Smart Scan Analysis for USDXAF
Based on our trend formula, USDXAF is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).