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USD CNH Technical Analysis - USD CNH Trading: 2024-12-09
USD/CNH Technical Analysis Summary
Above 7.2910
Buy Stop
Below 7.2596
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
USD/CNH Chart Analysis
USD/CNH Technical Analysis
The technical analysis of the USDCNH price chart on 4-hour timeframe shows USDCNH,H4 is rebounding above the 200-period moving average MA(200) after retracing to one-week low last session. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 7.2910. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 7.2596. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Forex - USD/CNH
China’s inflation ticked down in November. Will the USDCNH price rebound?
China’s inflation ticked down in November: China's consumer prices continued declining in November, while factory-gate prices fell at slower pace. The National Bureau of Statistics of China reported China’s Consumer Price Index (CPI) growth declined to 0.2% over year in November after gaining 0.3% in October when an 0.4% increase was expected. At the same time Producer Price Index (PPI) fell 2.5% over year after 2.9% drop in October when a 2.8% decrease was expected. Slower than expected increase in Chinese consumer prices indicating slowing of Chinese economy is bearish for Chinese currency and bullish for USDCNH.
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