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Forex Trend Analysis Report

Prepared for you on Wednesday, May 22, 2024.

CFA Franc BCEAO/Chinese Yuan Renminbi (FOREX:XOFCNY)

Long-Term Uptrend (+90) - XOFCNY is in a strong uptrend that is likely to continue. While XOFCNY 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 XOFCNY?

MarketClub looks at technical strength and momentum to determine if the timing is right for XOFCNY.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_XOFCNY
Open High Low XOFCNY Price Change
0.01174361 0.01174361 0.01174208 0.01174208 -0.00000200
Entry Signal

MarketClub’s Trade Triangles for XOFCNY

long term up The long-term trend has been UP since May 21st, 2024 at 0.01173979

intermediate term up The intermediate-term trend has been UP since May 7th, 2024 at 0.01160244

short term up The short-term trend has been UP since May 7th, 2024 at 0.01159451

Smart Scan Analysis for XOFCNY

Based on our trend formula, XOFCNY is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+90
Smart Scan Analysis for XOFCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.01174361 0.01174361 0.01174208 0.01174208 -0.00000200
Prev. Close Volume Bid Ask Time
0.01171815 2024-05-21 21:51:51
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