Forex Trend Analysis Report
Prepared for you on Wednesday, August 21, 2019.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Smart Scan Chart Analysis continues positive longer term. Look for this market to remain firm. Strong Uptrend 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 USDXOF
The long term trend has been UP since Jul 19th, 2019 at 591.00
The intermediate term trend has been UP since Jul 9th, 2019 at 585.50
The short term trend has been UP since Aug 18th, 2019 at 587.08
Smart Scan Analysis for USDXOF
Based on a pre-defined weighted trend formula for chart analysis, USDXOF scored +90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).