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 in a range of 7.1800/7.2000 – UOB Group

Source Fxstreet

US Dollar (USD) is likely to trade in a range of 7.1800/7.2000 against Chinese Yuan (CNH). In the longer run, for now, USD is likely to trade in a range between 7.1800 and 7.2300, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD is likely to trade in a range

24-HOUR VIEW: "USD rose early yesterday. When it was at 7.2025, we noted that 'The increase in momentum is likely to lead to further advance, potentially to 7.2130.' However, USD rose less than expected to 7.2076 and then fell, reaching a low of 7.1828 in the NY session. The price movements are likely part of a range trading phase, expected to be between 7.1800 and 7.2000."

1-3 WEEKS VIEW: "We revised our USD view to neutral view yesterday (29 May, spot at 7.2025), indicating that 'the recent downward bias has faded.' We added, 'USD is likely to trade in a range between 7.1800 and 7.2300 for now.' There is no change in our view for now."

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.

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

Risks Rise for Bitcoin, Gold, and Silver as Goldman Sachs Warns $80 Billion in Stock Selling Global markets may be entering a new phase of volatility after Goldman Sachs warned that systematic funds could offload tens of billions of dollars in equities in the coming weeks.This wave of selling

Author Beincrypto

21 hours ago

Global markets may be entering a new phase of volatility after Goldman Sachs warned that systematic funds could offload tens of billions of dollars in equities in the coming weeks.This wave of selling

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

21 hours ago

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

Popular Symbols