Forex Trend Analysis Report
Prepared for you on Monday, June 1, 2020.
CFA Franc BCEAO/South African Rand (FOREX:XOFZAR)
Sidelines Mode (-55) - XOFZAR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid XOFZAR?
MarketClub looks at technical strength and momentum to determine if the timing is right for XOFZAR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XOFZAR
The long-term trend has been UP since Feb 27th, 2020 at 0.02575640
The intermediate-term trend has been DOWN since May 21st, 2020 at 0.02986492
The short-term trend has been UP since May 28th, 2020 at 0.02944387
Smart Scan Analysis for XOFZAR
Based on our trend formula, XOFZAR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).