Forex Trend Analysis Report
Prepared for you on Sunday, March 7, 2021.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Sidelines Mode (-55) - USDXOF 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 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 Nov 30th, 2020 at 549.03285
The intermediate-term trend has been DOWN since Feb 23rd, 2021 at 539.50000
The short-term trend has been UP since Mar 3rd, 2021 at 541.00000
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).