Forex Trend Analysis Report
Prepared for you on Saturday, March 25, 2023.
US Dollar/CFA Franc BCEAO (FOREX:USDXOF)
Long-Term Downtrend (-90) - USDXOF is in a strong downtrend that is likely to continue. While USDXOF is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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 DOWN since Jan 2nd, 2023 at 615.5
The intermediate-term trend has been DOWN since Mar 13th, 2023 at 614.5
The short-term trend has been DOWN since Mar 24th, 2023 at 612.0
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).