Forex Trend Analysis Report
Prepared for you on Thursday, July 16, 2020.
US Dollar/CFA Franc BEAC (FOREX:USDXAF)
Strong Downtrend (-100) - USDXAF is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, SHORTSYMBOL continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid USDXAF?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDXAF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDXAF
The long-term trend has been DOWN since Jun 5th, 2020 at 586.39580
The intermediate-term trend has been DOWN since May 19th, 2020 at 599.12683
The short-term trend has been DOWN since Jun 24th, 2020 at 583.26213
Smart Scan Analysis for USDXAF
Based on our trend formula, USDXAF is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).