USD/CNH 4H Chart: Channel Up

Source: Dukascopy Bank SA

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.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.