Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

USD/CNH: Likely to trade between 7.1220 and 7.1320 – UOB Group

Source Fxstreet

US Dollar (USD) is likely to trade between 7.1220 and 7.1320. In the longer run, USD could drop to 7.1130; a clear break below this level will shift the focus to 7.1000, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/CNH might drop towards 7.1130

24-HOUR VIEW: "We expected USD to 'trade between 7.1220 and 7.1320' yesterday. However, USD traded in a tight range of 7.1230/7.1287. The price action provides no fresh clues, and we continue to expect USD to trade between 7.1220 and 7.1320."

1-3 WEEKS VIEW: "In our most recent narrative from last Friday (17 Oct, spot at 7.1220), we indicated that USD 'could drop to 7.1130'. We added, 'a clear break below this level will shift the focus to 7.1000.' Although USD has not been able to make much headway to the downside, we will continue to hold the same view as long as the ‘strong resistance’ at 7.1400 (no change in level) is not breached."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin ETF Investors Face 8% Losses as $3 Billion Exits Market in Two Weeks US spot Bitcoin ETF buyers are essentially the very investors expected to provide a stable, long-term bid for the pioneer crypto. However, data shows that these players are now sitting on mounting unr

Author Beincrypto

Feb 03, Tue

US spot Bitcoin ETF buyers are essentially the very investors expected to provide a stable, long-term bid for the pioneer crypto. However, data shows that these players are now sitting on mounting unr

Gold Prices Surge Amid Rising U.S.-Iran Tensions, Driving Safe-Haven Demand to New Heights Gold prices rebounded Wednesday, climbing 0.9% to $4,995.60 an ounce as geopolitical tensions between the U.S. and Iran heightened demand for safe-haven assets, despite recent market volatility.

Author Mitrade

Feb 04, Wed

Gold prices rebounded Wednesday, climbing 0.9% to $4,995.60 an ounce as geopolitical tensions between the U.S. and Iran heightened demand for safe-haven assets, despite recent market volatility.

MicroStrategy Faces Catastrophic Risk as Bitcoin Falls to $60,000 MicroStrategy is under renewed market pressure after Bitcoin slid to $60,000, pushing the company’s vast crypto treasury deeper below its average acquisition cost and reigniting concerns about balance

Author Beincrypto

Feb 06, Fri

MicroStrategy is under renewed market pressure after Bitcoin slid to $60,000, pushing the company’s vast crypto treasury deeper below its average acquisition cost and reigniting concerns about balance

Bitcoin Slips Below $70,000 Support, Risk of 37% Drop Emerges Bitcoin has entered a critical phase after its recent correction dragged the price toward the $70,000 level. Viewed through a macro lens, this move has exposed BTC to elevated downside risk. Several o

Author Beincrypto

Feb 06, Fri

Bitcoin has entered a critical phase after its recent correction dragged the price toward the $70,000 level. Viewed through a macro lens, this move has exposed BTC to elevated downside risk. Several o

Fed to enter gradual money-printing phase, says Lyn Alden Lyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.

Author Cryptopolitan

10 hours ago

Lyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.

Popular Symbols