Forex Trend Analysis Report
Prepared for you on Tuesday, November 24, 2020.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Crossroads (-60) - USDXOF is struggling to move into a solid trend. Beware of choppy markets 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 UP since Oct 23rd, 2020 at 585.80665
The intermediate-term trend has been DOWN since Oct 27th, 2020 at 554.64546
The short-term trend has been DOWN since Nov 17th, 2020 at 553.00000
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).