USD/CNH approaches 2021 low level

Note: This section contains information in English only.
Source: Dukascopy Bank SA


From mid-June up to the middle of September, the USD/CNH tried to and failed at passing the 6.5000 level and a zone that surrounds it. The rate bounced off the resistance and revealed that it is trading in a channel down pattern during the middle of October.

Most recently, the channel down pattern has guided the rate down to almost reaching the 2021 low level zone at 6.3500/6.3600. Future forecasts were based upon whether or not the 2021 low level provides support and reverses the decline.

In the case that the pair recovers from the 2021 low levels, it could aim at the resistance of the upper trend line of the channel down pattern near 6.4000. Meanwhile, note that the 50-four hour period simple moving average could reach the 6.4000 mark by the time a rate's recovery reaches that level. In addition, a move above 6.4000 could find resistance at 6.4500 and the 200-four hour period simple moving averages.

On the other hand, a decline below the 2021 low levels would result in the rate reaching levels not seen since 2018. Most likely, a potential drop would look for support in the channel down pattern's lower trend line and the 6.3000 mark, before reaching the 2018 low level zone near 6.2500.
Back to articles

Actual Topics

Fri, 12 Nov 2021 14:13:32 GMT

Copper trades in a sideways range

Since declining sharply in late October, the price for copper has consolidated by trading sideways. Namely, the commodity price has been trading in a wide range between the support of the 4.2810/4.2915 and the resistance of 4.4350/4.4650. In the meantime, note that the four hour simple moving averages located in the trading range have been mostly ignored. If the price

Thu, 11 Nov 2021 09:55:53 GMT

Japan index aims at all-time high

Throughout 2021, the Japan 225 index has been trading between the support of 26,900.00/27,150.00 zone and the resistance of 30,590.00/30,830.00. Namely, the rate made two attempts to pass the resistance zone and kept finding support in the support zone since May. Most recently, in early October, the index bounced off the support zone and started a surge. By examining the

Subscribe to "Fundamental Analysis" feed

Abonnieren
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere handelsbezogene Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Für weitere Informationen über eine mögliche Zusammenarbeit,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Dukascopy Bank Binären Optionen zu lernen /Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere Handelsbezogenen Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Um mehr über Krypto Handel/CFD/ Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über Business Introducer und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Für weitere Informationen über eine mögliche Zusammenarbeit,
rufen Sie uns bitte an oder bitten Sie um einen Rückruf.