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Forex Trend Analysis Report

Prepared for you on Monday, December 4, 2023.

US Dollar/CFA Franc BCEAO (FOREX:USDXOF)

Bear Market Rally (-75) - USDXOF is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on USDXOF as it may be in the beginning of a reversal.

Is it time to buy, sell, or avoid USDXOF?

MarketClub looks at technical strength and momentum to determine if the timing is right for USDXOF.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_USDXOF
Open High Low USDXOF Price Change
602.09922 602.09922 602.09922 602.09922 0.00000
Entry Signal

MarketClub’s Trade Triangles for USDXOF

long term down The long-term trend has been DOWN since Sep 7th, 2023 at 589.22704

intermediate term down The intermediate-term trend has been DOWN since Oct 30th, 2023 at 616.50000

short term up The short-term trend has been UP since Dec 1st, 2023 at 600.96013

Smart Scan Analysis for USDXOF

Based on our trend formula, USDXOF is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-75
Smart Scan Analysis for USDXOF
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
602.09922 602.09922 602.09922 602.09922 0.00000
Prev. Close Volume Bid Ask Time
602.34249 2023-12-02 06:46:36
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