Forex Trend Analysis Report
Prepared for you on Sunday, October 24, 2021.
CFA Franc BCEAO/Chinese Yuan Renminbi (FOREX:XOFCNY)
Long-Term Downtrend (-90) - XOFCNY is in a strong downtrend that is likely to continue. While XOFCNY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid XOFCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for XOFCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XOFCNY
The long-term trend has been DOWN since Oct 14th, 2020 at 0.01205399
The intermediate-term trend has been DOWN since Sep 16th, 2021 at 0.01159344
The short-term trend has been DOWN since Sep 9th, 2021 at 0.01165183
Smart Scan Analysis for XOFCNY
Based on our trend formula, XOFCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).