Forex Trend Analysis Report
Prepared for you on Wednesday, January 29, 2020.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for USDXOF
The long term trend has been UP since Jan 10th, 2020 at 597.21000
The intermediate term trend has been UP since Jan 10th, 2020 at 592.50000
The short term trend has been UP since Jan 27th, 2020 at 594.51129
Smart Scan Analysis for USDXOF
Based on a pre-defined weighted trend formula for chart analysis, USDXOF scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).