USD/CNH - Daily - Technical analysis published on 04/06/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
50%
17%
33%
My opinion
Neutral between 6.78600 CNH and 6.98157 CNH
My targets
-
My analysis
The basic trend is slightly bearish and the short term is tentatively bullish. With such a pattern, it is difficult to favour buying or selling. The first resistance is located at 6.98157 CNH. The first support is located at 6.78600 CNH. Without a basic trend, it is be important to monitor the price reaction at the first levels of resistance or support. A bullish break in resistance could quickly reverse the basic trend. A bearish break in the support would be welcome to boost the slightly bearish basic trend. On the other hand, if the price is blocked by resistance or support, it could be attractive to trade against the trend on the last short-term movement registered by USD/CNH.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/CNH rating is 6.88405 CNH. The price registered a decrease of -0.02% on the session with the lowest point at 6.87050 CNH and the highest point at 6.88851 CNH. The deviation from the price is +0.20% for the low point and -0.06% for the high point.6.87050
6.88851
6.88405
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/CNH chart shows a slightly bearish trend. 60.71% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently given by short-term moving averages could cause a reversal of the trend. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, only 9 technical indicators out of 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6.67840 | 6.78600 | 6.86652 | 6.88405 | 6.98157 | 7.19041 | 7.34266 |
| Change (%) | -2.99% | -1.42% | -0.25% | - | +1.42% | +4.45% | +6.66% |
| Change | -0.20565 | -0.09805 | -0.01753 | - | +0.09752 | +0.30636 | +0.45861 |
| Level | Major | Minor | Major | - | Major | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.84695 | 6.85494 | 6.87023 | 6.87822 | 6.89351 | 6.90150 | 6.91679 |
| Camarilla | 6.87913 | 6.88126 | 6.88340 | 6.88553 | 6.88766 | 6.88980 | 6.89193 |
| Woodie | 6.85061 | 6.85677 | 6.87389 | 6.88005 | 6.89717 | 6.90333 | 6.92045 |
| Fibonacci | 6.85494 | 6.86383 | 6.86932 | 6.87822 | 6.88711 | 6.89260 | 6.90150 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.76967 | 6.80675 | 6.83812 | 6.87520 | 6.90657 | 6.94365 | 6.97502 |
| Camarilla | 6.85068 | 6.85695 | 6.86323 | 6.86950 | 6.87578 | 6.88205 | 6.88832 |
| Woodie | 6.76683 | 6.80532 | 6.83528 | 6.87377 | 6.90373 | 6.94222 | 6.97218 |
| Fibonacci | 6.80675 | 6.83290 | 6.84905 | 6.87520 | 6.90135 | 6.91750 | 6.94365 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.60082 | 6.70562 | 6.78756 | 6.89236 | 6.97430 | 7.07910 | 7.16104 |
| Camarilla | 6.81815 | 6.83526 | 6.85238 | 6.86950 | 6.88662 | 6.90374 | 6.92085 |
| Woodie | 6.58939 | 6.69991 | 6.77613 | 6.88665 | 6.96287 | 7.07339 | 7.14961 |
| Fibonacci | 6.70562 | 6.77696 | 6.82103 | 6.89236 | 6.96370 | 7.00777 | 7.07910 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.22 | |
| MACD (12,26,9): | -0.0022 | |
| Directional Movement: | -4.86560 | |
| AROON (14): | 35.71428 | |
| DEMA (21): | 6.88155 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.91815 | |
| Elder Ray (13): | -0.00152 | |
| Super Trend (3,10): | 6.97571 | |
| Zig ZAG (10): | 6.88356 | |
| VORTEX (21): | 0.8865 | |
| Stochastique (14,3,5): | 69.96 | |
| TEMA (21): | 6.87400 | |
| Williams %R (14): | -27.81 | |
| Chande Momentum Oscillator (20): | 0.00849 | |
| Repulse (5,40,3): | 0.1485 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0029 | |
| Courbe Coppock: | 0.41 |
| MA7: | 6.88015 | |
| MA20: | 6.87959 | |
| MA50: | 6.86866 | |
| MA100: | 6.90519 | |
| MAexp7: | 6.87995 | |
| MAexp20: | 6.88281 | |
| MAexp50: | 6.88507 | |
| MAexp100: | 6.90168 | |
| Price / MA7: | +0.06% | |
| Price / MA20: | +0.06% | |
| Price / MA50: | +0.22% | |
| Price / MA100: | -0.31% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.02% | |
| Price / MAexp50: | -0.01% | |
| Price / MAexp100: | -0.26% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on USD/CNH at the time of the analysis were as follows:
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Trade of the Week - Monday 21/11/22: long USD/CNH
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USDCNH Extends Dive While S&P 500 and Dollar Await an Unreliable Fed Signal
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Dollar May Await Fed Before Leaning Into Trend, But USDCNH Is Actively Dropping
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Why Aren't AAPL and GM Shares, USDCNH, Fed Rate Forecasts Lower on Trump's Threats?
-
Technical Focus: Honing in on a Major USD/CNH Level
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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