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USD/CNH Technical Analysis - USD/CNH Trading: 2023-10-13
USD/CNH Technical Analysis Summary
Above 7.3128
Buy Stop
Below 7.2888
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Buy |
| 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 as it breached above the 200-period moving average MA(200). We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 7.3128. 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 7.2888. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic 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 stalled in September. Will the USDCNH price persist advancing?
China’s inflation stalled in September: China's consumer prices were flat in September, while factory-gate prices shrank at slower pace. the National Bureau of Statistics of China reported China’s Consumer Price Index (CPI) stagnated at 0% over year in September after accelerating by 0.1% in August. The market expected an increase of 0.2%. At the same time Producer Price Index (PPI) declined 2.5% over year after 3% drop in August when a 2.4% decline was expected. Stagnant consumer prices and falling producer prices in the world’s second-largest economy nearly a year after reopening indicate deflationary pressures persist. This is bearish for Chinese currency and bullish for USDCNH.
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