Forex Trend Analysis Report
Prepared for you on Thursday, October 17, 2019.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
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 USDXOF
The long term trend has been UP since Jul 19th, 2019 at 591.00
The intermediate term trend has been DOWN since Oct 13th, 2019 at 595.32
The short term trend has been DOWN since Oct 13th, 2019 at 597.21
Smart Scan Analysis for USDXOF
Based on a pre-defined weighted trend formula for chart analysis, USDXOF scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).