Forex Trend Analysis Report
Prepared for you on Friday, March 22, 2019.
CFA Franc BCEAO/US Dollar (FOREX:XOFUSD)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 XOFUSD
The long term trend has been DOWN since May 1st, 2018 at 0.001860
The intermediate term trend has been UP since Mar 21st, 2019 at 0.001733
The short term trend has been UP since Mar 21st, 2019 at 0.001727
Smart Scan Analysis for XOFUSD
Based on a pre-defined weighted trend formula for chart analysis, XOFUSD scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).