6 Nov 2018
USD/CNH Technical Analysis: Neutral outlook, conflicting chart signals
- The USD/CNH is currently reporting moderate gains at 6.9218, having defended the 89-day SMA in the previous two trading days.
- The 15-minute chart shows a rising wedge breakdown (bearish pattern) has failed and the pair has violated the bearish falling tops pattern.
- Still, it is too early to call a bullish reversal as the 5-day and 10-day EMAs are trending south. Notably, the 5-day EMA is acting as strong resistance today.
- The immediate outlook remains neutral and only a daily close below the 89-day SMA would revive the bearish view.
15-minute chart
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Daily chart
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Trend: Neutral
USD/CNH
Overview:
Last Price: 6.9208
Daily change: 74 pips
Daily change: 0.107%
Daily Open: 6.9134
Trends:
Daily SMA20: 6.9329
Daily SMA50: 6.8911
Daily SMA100: 6.8187
Daily SMA200: 6.5758
Levels:
Daily High: 6.9285
Daily Low: 6.8895
Weekly High: 6.9808
Weekly Low: 6.8524
Monthly High: 6.9798
Monthly Low: 6.8674
Daily Fibonacci 38.2%: 6.9136
Daily Fibonacci 61.8%: 6.9044
Daily Pivot Point S1: 6.8924
Daily Pivot Point S2: 6.8715
Daily Pivot Point S3: 6.8534
Daily Pivot Point R1: 6.9314
Daily Pivot Point R2: 6.9495
Daily Pivot Point R3: 6.9704