fxfarmerashik Posted October 14, 2020 Share Posted October 14, 2020 USD/CNH formed an inverted hammer candle on Tuesday, signaling an end of the bounce from the Oct. 9 low of 6.6787. The broader trend remains bearish, as evidenced by the trendline falling from May 27 and July 24 highs, the descending 5- and 10-week simple moving averages, and the weekly chart double top breakdown. As such, the pair could revisit recent lows below 6.68 and may extend the drop to 6.60 in the near-term. Fundamentals also favor continued declines in the currency pair as per TopAsiaFX. The People’s Bank of China recently said it wouldn’t employ aggressive monetary policies adopted by the western central banks. Further, according to IMF’s Chief Economist Gita Gopinath, China will be the only economy to report positive growth in 2020. Daily Chart Trend: Bearish Technical levels Today last price 6.7354 Today daily change -0.0050 Today daily change % -0.07 Today daily open 6.7404 Trends Daily SMA20 6.7683 Daily SMA50 6.8393 Daily SMA100 6.9443 Daily SMA200 6.9894 Link to comment Share on other sites More sharing options...
Yggri Posted January 25, 2021 Share Posted January 25, 2021 Quality analytics is the basis for productive work. Thank you for sharing the information. Link to comment Share on other sites More sharing options...
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