Forex Trend Analysis Report
Prepared for you on Tuesday, May 26, 2020.
/CFA Franc BCEAO (FOREX:LRDXOF)
Long-Term Downtrend (-90) - LRDXOF is in a strong downtrend that is likely to continue. While LRDXOF 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 LRDXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for LRDXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for LRDXOF
The long-term trend has been DOWN since Mar 5th, 2020 at 3.0067703
The intermediate-term trend has been DOWN since May 20th, 2020 at 3.0113253
The short-term trend has been DOWN since May 20th, 2020 at 3.0289850
Smart Scan Analysis for LRDXOF
Based on our trend formula, LRDXOF is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).