Forex Trend Analysis Report
Prepared for you on Tuesday, July 5, 2022.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Countertrend Up (+85) - USDXOF is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
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 1st, 2021 at 561.81145
The intermediate-term trend has been UP since Jun 13th, 2022 at 614.62357
The short-term trend has been UP since Jun 28th, 2022 at 623.00000
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).