Forex Trend Analysis Report
Prepared for you on Wednesday, November 13, 2019.
Chinese Yuan Renminbi/CFA Franc BCEAO (FOREX:CNYXOF)
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 CNYXOF
The long term trend has been DOWN since May 13th, 2019 at 84.90500
The intermediate term trend has been UP since Nov 5th, 2019 at 84.04425
The short term trend has been UP since Nov 4th, 2019 at 83.63491
Smart Scan Analysis for CNYXOF
Based on a pre-defined weighted trend formula for chart analysis, CNYXOF scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).