USD/CNH Down 56 Pips On 4 Hour Chart, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
USDCNH
(Last Updated July 8, 2020)
Hello! This is the news page for USDCNH. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on USDCNH, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
USDCNH Moving Averages
Nuances in the trend on USDCNH can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 100) — are bearish, implying a downward trend, aside from a rally about 3 months prior.
The chart below illustrates.
In terms of correlations over the past week for USDCNH, it has been most correlated with USDSEK. Over the past 14 days, however, AUDCAD is the asset most correlated to USDCNH. Alternatively, the asset least correlated with USDCNH over the past week has been GBPCHF, but over the past two weeks, EURCAD has been the asset least correlated with USDCNH. See the chart below to observe the recent price action in USDCNH versus those of assets it hasn’t been well correlated with.
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USD/CNH Down 7 Pips in Last 4 Hours
The closest is the 20 day average, which is 406.5 pips away.
USD/CNH Down 225 Pips On 4 Hour Chart, Fares the Worst Out of Forex; Nears 20 Day Moving Average
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
USD/CNH Down 56 Pips Over Past 4 Hours, is Inching Close to 20 Day Average; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
USD/CNH Up 7 Pips Over Past 4 Hours; 2 Day Up Streak Snapped
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
USD/CNH Up 137 Pips On 4 Hour Chart
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
USD/CNH Down 48 Pips in Last 4 Hours
Relative to other instruments in the forex asset class, usd/cnh ranked 39th yesterday in terms of percentage price change.
USD/CNH Up 38 Pips On 4 Hour Chart; Moves Up For the 2nd Day In A Row
The closest is the 20 day average, which is 772.1 pips away.
USD/CNH Up 68 Pips On 4 Hour Chart, Fares the Worst Out of Forex; Came Into Today Down For the 3rd Day In A Row
Those trading within the forex asset class should know that usd/cnh was the worst performer in the class.
USD/CNH Heads Up For the 2nd Day In A Row, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.