USD/CNH
USD CNH
- CNH (-)
- Real time data - Forex
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Type: Forex
Ticker: USDCNH
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USD/CNH - Daily - Technical analysis published on 04/06/2023 (GMT)

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  • Timeframe : Daily
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  • 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:
15 min. 1H Weekly

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.

Central Gaps

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:
The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Central Records

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:

Central Indicators

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:

Central Indicators

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:

Central Patterns

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


S3S2S1PriceR1R2R3
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
Standard6.846956.854946.870236.878226.893516.901506.91679
Camarilla6.879136.881266.883406.885536.887666.889806.89193
Woodie6.850616.856776.873896.880056.897176.903336.92045
Fibonacci6.854946.863836.869326.878226.887116.892606.90150


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard6.769676.806756.838126.875206.906576.943656.97502
Camarilla6.850686.856956.863236.869506.875786.882056.88832
Woodie6.766836.805326.835286.873776.903736.942226.97218
Fibonacci6.806756.832906.849056.875206.901356.917506.94365


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard6.600826.705626.787566.892366.974307.079107.16104
Camarilla6.818156.835266.852386.869506.886626.903746.92085
Woodie6.589396.699916.776136.886656.962877.073397.14961
Fibonacci6.705626.776966.821036.892366.963707.007777.07910

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 - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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