After breaking above the bearish trend line from 6. USDCNH recently broke above the bearish trend line from the May 24 high of 6. A break of this level will confirm that the bearish movement from the May 9 high of 6. After touching the bottom support trend line of the price channel on the weekly chart, USDCNH rebounded strongly from 6. Will the Downtrend Continue?

There is a bearish trend line from the May 24 high of 6. After breaking above the major resistance of the December high of All we can do now is to wait for the breakout to occur. Last week we started to see a significant two days retracement on the stock markets worldwide starting from Japan passing through Europe; nevertheless, the US markets was the most affected.

That was before markets rose at the end of the week. After hitting a new record of , BTCUSD dropped sharply to as low as However, the fall would possibly be consolidation of the uptrend from There is an ascending trend line from the March 25 low of with support at around on its daily chart. As long as the pair is … Continue reading Bitcoin in Consolidation of Uptrend.

After breaking below the triangle pattern on its daily chart, USDCNH dropped sharply to as low as 6. Now the pair stays in a descending price channel on its 4-hour chart, indicating that the pair remains in the downtrend from the May 9 high of 6. After breaking below the lower support trend line of the triangle patter on the daily chart, USDCNH continued to break throughthe 6.

Further decline to test the support of the January 5 low of 6.

Chinese Yuan to U.S. Dollar Forecast

After touching the ascending trend line from Further rise to test the resistance of the descending trend line from the July high of A clear break through the … Continue reading Gold Rebounded Away From Trend Line. USDCNH broke below the bottom trend line from 6. The subsequent downward movement extended to as low as 6. USDCNH moves in the ascending price channel on 4-hour chart which is providing the near term support around 6.

USD to CNY Exchange Rate - Bloomberg Markets

As long as the pair stays in the channel, the fall from 6. USDCNH is in long term uptrend from 6. The highest record of this bullish movement is 6. After a sharp drop to 6. The triangle pattern could be treated as a part of the consolidation stared from 6. It had just raised rates in December for the first time in 10 years to 0. It was also forecasting that FOMC members expected rates to be between 1.

As … Continue reading Annual Forex Market Outlook — The yen is trading at 6. The Federal Open Market Committee kept the target range for its overnight lending rate at 0.

There was little action and no data out of China. The yuan opened slightly weaker on Monday, hitting its lowest level in nearly a month, after the dollar index strengthened 0. The price action clearly indicates that investors are waiting for the next major signal that could come from the U.

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Chinese Yuan to US Dollar Currency Exchange Rate Forecast (CNY/USD)

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