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

Technical Analysis

USD/CNH: 2-way risks – OCBC

Source Fxstreet

The NDRC press conference appears to run short on details with regards to stimulus measures. USD/CNH was last at 7.0582, OCBC’s FX strategist Christopher Wong notes.

Bullish momentum on daily chart intact

“Hopes were raised but the delivery was disappointing. Post-opening rally in Chinese equities has partially fizzled out as the lack of followthrough is a setback to sentiments, and CNH-sensitive FX, including AUD, KRW, MYR.”

“Near term, USD/CNH should continue to face 2-way risks as markets digest 1/ the disappointment over the lack of details on China stimulus; 2/ monitor daily fix for a sense of how comfortable policymakers may be with RMB’s recent price action; 3/ potential return of US exceptionalism and ahead of US elections (potentially supportive of USD).”

“Bullish momentum on daily chart intact which RSI rose. Support at 7.0320 levels. Resistance at 7.11 (50 DMA).”

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

Recommended Articles

Bitcoin Flirts With ‘Undervalued’ As MVRV Slides Toward 1 Bitcoin is nearing a level on the MVRV ratio that historically lines up with market “undervaluation,” according to CryptoQuant contributor Crypto Dan, as traders look for signs that a four-month

Author NewsBTC

16 hours ago

Bitcoin is nearing a level on the MVRV ratio that historically lines up with market “undervaluation,” according to CryptoQuant contributor Crypto Dan, as traders look for signs that a four-month

President Trump expected to ease on metal tariffs as elections draw close President Donald Trump is getting ready to ease up on some of his steel and aluminum tariffs. The White House is worried about rising prices and bad poll numbers with midterm elections coming up in November, three people close to the discussions told Financial Times. The administration will look at what’s getting hit with tariffs […]

Author Cryptopolitan

16 hours ago

President Donald Trump is getting ready to ease up on some of his steel and aluminum tariffs. The White House is worried about rising prices and bad poll numbers with midterm elections coming up in November, three people close to the discussions told Financial Times. The administration will look at what’s getting hit with tariffs […]

Today’s Market Recap: AI Panic Intensifies, Global Assets Fall Broadly Tracking Market TrendsTradingKey - On the eve of the U.S. CPI data release, AI panic escalated. Amid deep-seated concerns that artificial intelligence will disrupt business models across many industri

Author TradingKey

Yesterday 10: 16

Tracking Market TrendsTradingKey - On the eve of the U.S. CPI data release, AI panic escalated. Amid deep-seated concerns that artificial intelligence will disrupt business models across many industri

Silver Price Forecast: XAG/USD rebounds above $76.50 after sharp drop, eyes on US CPI data Silver price (XAG/USD) recovers some lost ground to near $76.60 during the Asian trading hours on Friday. The white metal suddenly fell late Thursday, pushing silver down more than 11%.

Author FXStreet

Yesterday 01: 56

Silver price (XAG/USD) recovers some lost ground to near $76.60 during the Asian trading hours on Friday. The white metal suddenly fell late Thursday, pushing silver down more than 11%.

Is SaaS Dead? The Truth Behind the Software Meltdown, the Missing Floor, and the Peak That’s Not Coming Back Over the past few weeks, you’ve probably seen the same refrain everywhere: “SaaS has crashed this much, valuations must have bottomed, time to buy the dip.”On the surface, that sounds tempting. A lot

Author TradingKey

Feb 12, Thu

Over the past few weeks, you’ve probably seen the same refrain everywhere: “SaaS has crashed this much, valuations must have bottomed, time to buy the dip.”On the surface, that sounds tempting. A lot

Popular Symbols