USDCNH Live Chart | Dollar to Yuan Chart | IFCM Canada
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USDCNH Live Chart

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Leverage 1:100
Margin 1000
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Status: Closed Trading
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USD/CNH Technical Analysis

The technical analysis of the USDCNH price chart on 4-hour timeframe shows USDCNH,H4 is retracing down toward the 200-period moving average MA(200) after rebounding to one-week high last session. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 7.31820. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 7.35510. After placing the order, the stop loss is to be moved to the next fractal high 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 economy grew faster than the forecast in furth quarter of 2024. Will the USDCNH price retracing down persist?

The National Bureau of Statistics reported on Friday China’s economy grew 5.4% in the fourth quarter from a year earlier after 4.6% growth in third quarter when a 5% increase was expected. The economy expanded 5.0% for the full-year 2024, meeting the government’s annual growth target of around 5%. China’s industrial output growth and retail sales were above forecast too for December: China’s Industrial Production rose by 6.2% over year in December after a growth of 5.4% in November when a steady growth was forecast. At the same time retail sales increased by 3.7% over year in December, up from 3% in November. Accelerating Chinese economic expansion is bullish for Chinese currency and bearish for USDCNH pair.

IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Neutral
MA(200) Buy
Fractals Neutral
Parabolic SAR Sell
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USD CNH News

China Rate Cut Surprise

China Rate Cut Surprise

China's central bank, PBOC, surprised financial markets by cutting key interest rates on Monday in an effort to boost the...

22/7/2024
China’s Historic Rate Cut: How to Profit from the Market Confusion

China’s Historic Rate Cut: How to Profit from the Market Confusion

China overwhelmed the markets on Monday by cutting its 5-year loan prime rate (LPR) by 25 basis points, the largest cut ever,...

20/2/2024
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