Forex Trend Analysis Report
Prepared for you on Monday, March 20, 2023.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Strong Downtrend (-100) - USDXOF is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, USDXOF continues to fall. Traders should use caution and set stops.
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.
MarketClub’s Trade Triangles for USDXOF
The long-term trend has been DOWN since Jan 2nd, 2023 at 615.5
The intermediate-term trend has been DOWN since Mar 13th, 2023 at 614.5
The short-term trend has been DOWN since Mar 18th, 2023 at 612.0
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).