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.
(Last Updated January 18, 2021)
Hello! This is the news page for USDCNH. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
United States Foreign Bond Investment | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Net Long-Term Tic Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Overall Net Capital Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Joe Biden’s Inauguration | NA | US Dollar | USD | 2021-01-20 | 00:00 GMT | ||
United States NAHB Housing Market Index | Jan 2021 | US Dollar | USD | 2021-01-20 | 15:00 GMT | 86 |
If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for USDCNH.
Across several time periods between 20 and 200 days, the trend on USDCNH has remained consistently bearish.
The chart below illustrates.
Regarding USDCNH’s correlations over the past 7 days, it has demonstrated the strongest correlation with AUDUSD. AUDUSD is the asset with which USDCNH has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, EURCHF has been the asset least correlated with USDCNH — but over the past two weeks, EURSEK 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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Currently, USDCNH’s rate is up 197 pips (0.31%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDCNH’s weekly price action over the past 52 weeks can be seen via the chart below.
Strongest trend on the 120 month timeframe.
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.
The closest is the 20 day average, which is 406.5 pips away.
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.
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.
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.
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.
Relative to other instruments in the forex asset class, usd/cnh ranked 39th yesterday in terms of percentage price change.
The closest is the 20 day average, which is 772.1 pips away.
Those trading within the forex asset class should know that usd/cnh was the worst performer in the class.
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.