Forex Trend Analysis Report
Prepared for you on Tuesday, January 18, 2022.
Brazilian Real/CFA Franc BCEAO (FOREX:BRLXOF)
Sidelines Mode (+50) - BRLXOF is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until BRLXOF can gain momentum.
Is it time to buy, sell, or avoid BRLXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for BRLXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for BRLXOF
The long-term trend has been DOWN since Oct 10th, 2021 at 103.69878
The intermediate-term trend has been UP since Jan 14th, 2022 at 103.26779
The short-term trend has been UP since Jan 14th, 2022 at 103.26779
Smart Scan Analysis for BRLXOF
Based on our trend formula, BRLXOF is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).