Forex Trend Analysis Report
Prepared for you on Saturday, October 19, 2019.
CFA Franc BCEAO/Chinese Yuan Renminbi (FOREX:XOFCNY)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 XOFCNY
The long term trend has been UP since May 13th, 2019 at 0.011778
The intermediate term trend has been UP since Oct 17th, 2019 at 0.011937
The short term trend has been UP since Oct 17th, 2019 at 0.011925
Smart Scan Analysis for XOFCNY
Based on a pre-defined weighted trend formula for chart analysis, XOFCNY scored +80 on a scale from -100 (strong downtrend) to +100 (strong uptrend).