USD/CNH

- CNH (-)

- Real time data - Forex

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Forex
Ticker:	USDCNH
ISIN:

USD/CNH - Daily - Technical analysis published on 06/14/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 7.09412 CNH

My targets

7.24632 CNH (+0.07237)

7.34266 CNH (+0.16871)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/CNH as long as the price remains well above 7.09412 CNH. The buyers' bullish objective is set at 7.24632 CNH. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.34266 CNH. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.8

Comment on the analysis

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 7.17395 CNH. On the day, this instrument gained +0.00% and was between 7.16596 CNH and 7.17876 CNH. This implies that the price is at +0.11% from its lowest and at -0.07% from its highest.

7.16596

7.17876

7.17395

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

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

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of USD/CNH in Daily shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : Daily

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:

Bearish harami

Type : Bearish

Timeframe : Daily

Doji

Type : Neutral

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	6.83564	6.98157	7.09412	7.17395	7.19041	7.24632	7.34266
Change (%)	-4.72%	-2.68%	-1.11%	-	+0.23%	+1.01%	+2.35%
Change	-0.33831	-0.19238	-0.07983	-	+0.01646	+0.07237	+0.16871
Level	Minor	Major	Minor	-	Major	Minor	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	7.12486	7.13667	7.15527	7.16708	7.18568	7.19749	7.21609
Camarilla	7.16550	7.16829	7.17107	7.17386	7.17665	7.17944	7.18222
Woodie	7.12825	7.13837	7.15866	7.16878	7.18907	7.19919	7.21948
Fibonacci	7.13667	7.14829	7.15547	7.16708	7.17870	7.18588	7.19749

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	7.06070	7.08197	7.11316	7.13443	7.16562	7.18689	7.21808
Camarilla	7.12991	7.13472	7.13953	7.14434	7.14915	7.15396	7.15877
Woodie	7.06565	7.08445	7.11811	7.13691	7.17057	7.18937	7.22303
Fibonacci	7.08197	7.10201	7.11439	7.13443	7.15447	7.16685	7.18689

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	6.72621	6.81123	6.96430	7.04932	7.20239	7.28741	7.44048
Camarilla	7.05189	7.07371	7.09554	7.11736	7.13919	7.16101	7.18284
Woodie	6.76023	6.82824	6.99832	7.06633	7.23641	7.30442	7.47450
Fibonacci	6.81123	6.90218	6.95837	7.04932	7.14027	7.19646	7.28741

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):	74.06
MACD (12,26,9):	0.0497
Directional Movement:	21.90621
AROON (14):	85.71428
DEMA (21):	7.16709
Parabolic SAR (0,02-0,02-0,2):	7.09707
Elder Ray (13):	0.04505
Super Trend (3,10):	7.07433
Zig ZAG (10):	7.17302
VORTEX (21):	1.2746
Stochastique (14,3,5):	95.92
TEMA (21):	7.18063
Williams %R (14):	-4.26
Chande Momentum Oscillator (20):	0.08648
Repulse (5,40,3):	0.5218
ROCnROLL:	1
TRIX (15,9):	0.1014
Courbe Coppock:	2.49

MA7:	7.14857
MA20:	7.10446
MA50:	6.99341
MA100:	6.92951
MAexp7:	7.15040
MAexp20:	7.10136
MAexp50:	7.02519
MAexp100:	6.97501
Price / MA7:	+0.36%
Price / MA20:	+0.98%
Price / MA50:	+2.58%
Price / MA100:	+3.53%
Price / MAexp7:	+0.33%
Price / MAexp20:	+1.02%
Price / MAexp50:	+2.12%
Price / MAexp100:	+2.85%

Quotes : - Real time data - Forex

News

The last news published on USD/CNH at the time of the generation of this analysis was as follows:

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

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