Forex Trend Analysis Report
Prepared for you on Monday, October 18, 2021.
CFA Franc BCEAO/US Dollar (FOREX:XOFUSD)
Long-Term Downtrend (-90) - XOFUSD is in a strong downtrend that is likely to continue. While XOFUSD 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 XOFUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for XOFUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XOFUSD
The long-term trend has been DOWN since Aug 9th, 2021 at 0.00179534
The intermediate-term trend has been DOWN since Sep 21st, 2021 at 0.00179277
The short-term trend has been DOWN since Sep 12th, 2021 at 0.00180334
Smart Scan Analysis for XOFUSD
Based on our trend formula, XOFUSD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).