Forex Trend Analysis Report
Prepared for you on Thursday, August 6, 2020.
CFA Franc BCEAO/Namibian Dollar (FOREX:XOFNAD)
Sidelines Mode (+50) - XOFNAD is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until XOFNAD can gain momentum.
Is it time to buy, sell, or avoid XOFNAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for XOFNAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XOFNAD
The long-term trend has been DOWN since Jul 13th, 2020 at 0.02898666
The intermediate-term trend has been UP since Jul 27th, 2020 at 0.02946108
The short-term trend has been UP since Jul 20th, 2020 at 0.02897827
Smart Scan Analysis for XOFNAD
Based on our trend formula, XOFNAD is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).