Forex Trend Analysis Report
Prepared for you on Monday, June 24, 2019.
US Dollar/CFA Franc BEAC (FOREX:USDXAF)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management 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 USDXAF
The long term trend has been UP since May 1st, 2018 at 538.97
The intermediate term trend has been DOWN since Jun 4th, 2019 at 583.90
The short term trend has been DOWN since Jun 21st, 2019 at 583.82
Smart Scan Analysis for USDXAF
Based on a pre-defined weighted trend formula for chart analysis, USDXAF scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).