Forex Trend Analysis Report
Prepared for you on Tuesday, January 21, 2020.
South African Rand/CFA Franc BCEAO (FOREX:ZARXOF)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight stops.
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 ZARXOF
The long term trend has been UP since Dec 18th, 2019 at 41.190000
The intermediate term trend has been DOWN since Jan 14th, 2020 at 40.673644
The short term trend has been DOWN since Jan 13th, 2020 at 41.034595
Smart Scan Analysis for ZARXOF
Based on a pre-defined weighted trend formula for chart analysis, ZARXOF scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).