Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Sell | Sell |
RSI (14) | Sell | Neutral | Buy |
Stochastic (5; 3) | Buy | Sell | Neutral |
Alligator (13; 8; 5) | Buy | Sell | Sell |
SAR (0.02; 0.2) | Buy | Buy | Sell |
Aggregate | ⇗ | ⇘ | ⇘ |
The review of the USD/CNH pair was not done for quite some time. However, it can be observed that the large scale situation has not changed. The US Dollar continues to lose value in two massive scale channel down patterns against the Chinese Yuan.
At the start of September the pair hit the combined support of two dominant channel down patterns, which resulted in a rebound. The rebound has been occurring in an ascending channel pattern. However, the channel is about to become obsolete.
The pair is approaching the resistance of the medium term channel down pattern, which is strengthened by the weekly R2 at 0.6070. In addition the 200-period SMA is approaching from the upside.