Forex Trend Analysis Report
Prepared for you on Wednesday, January 29, 2020.
CFA Franc BCEAO/Chinese Yuan Renminbi (FOREX:XOFCNY)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend 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 XOFCNY
The long term trend has been DOWN since Jan 9th, 2020 at 0.01175275
The intermediate term trend has been DOWN since Jan 3rd, 2020 at 0.01182898
The short term trend has been DOWN since Jan 24th, 2020 at 0.01167821
Smart Scan Analysis for XOFCNY
Based on a pre-defined weighted trend formula for chart analysis, XOFCNY scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).