Forex Trend Analysis Report
Prepared for you on Sunday, November 28, 2021.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Long-Term Uptrend (+90) - USDXOF is in a strong uptrend that is likely to continue. While USDXOF is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
Is it time to buy, sell, or avoid USDXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDXOF
The long-term trend has been UP since Oct 1st, 2021 at 561.81145
The intermediate-term trend has been UP since Oct 1st, 2021 at 561.22982
The short-term trend has been UP since Nov 12th, 2021 at 567.50000
Smart Scan Analysis for USDXOF
Based on our trend formula, USDXOF is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).