Forex Trend Analysis Report
Prepared for you on Friday, October 18, 2019.
/CFA Franc BCEAO (FOREX:LRDXOF)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 LRDXOF
The long term trend has been DOWN since Dec 19th, 2018 at 3.6273
The intermediate term trend has been DOWN since Sep 12th, 2019 at 2.8885
The short term trend has been DOWN since Oct 13th, 2019 at 2.8712
Smart Scan Analysis for LRDXOF
Based on a pre-defined weighted trend formula for chart analysis, LRDXOF scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).