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.
MarketClub’s Trade Triangles for USDXOF
The long-term trend has been DOWN since Sep 7th, 2023 at 589.22704
The intermediate-term trend has been DOWN since Oct 30th, 2023 at 616.50000
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).