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: Breaking out of rising wedge – OCBC

Source Fxstreet

USD/CNH fell amid supported risk sentiments. USD/CNH fell; last seen at 7.2853 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Risks are skewed to the downside

"CSI300, HK equities printed 1% and 2%, respectively this morning. Trump said that that the phone call with President Xi on Fri was a very good one for both China and the US may have supported sentiments."

"Daily momentum is bearish bias while RSI fell. Risks are skewed to the downside. Next support at 7.2755 (23.6% fibo retracement of Sep low to Dec high). Resistance at 7.3340 (21 DMA), 7.36 levels."

"A brief respite for RMB is still likely, given that policymakers have taken efforts – both onshore (via the fix) and offshore to maintain the relative stability in RMB. That said, we still expect RMB to depreciate when tariffs ultimately hit."

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

Recommended Articles

Gold Price Forecast: Hotter-Than-Expected PCE Inflation Pressures Gold, Will Warsh's Jackson Hole Speech Spark a New Rally? As of the European session on August 27, today's gold price (XAUUSD) maintained a range-bound consolidation trend intraday, with the latest price trading near $4,600. On Wednesday, gold p

Author TradingKey

11 hours ago

As of the European session on August 27, today's gold price (XAUUSD) maintained a range-bound consolidation trend intraday, with the latest price trading near $4,600. On Wednesday, gold p

TradingKey Daily Market Briefing: Nvidia Earnings Beat Expectations, Strong PCE Inflation Weighs on Market Sentiment as Focus Turns to Jackson Hole Meeting On August 26, Eastern Time, the three major U.S. stock indices closed slightly lower. U.S. July PCE inflation data came in slightly strong, reinforcing market concer

Author TradingKey

20 hours ago

On August 26, Eastern Time, the three major U.S. stock indices closed slightly lower. U.S. July PCE inflation data came in slightly strong, reinforcing market concer

WTI Crude Oil Price Forecast: Oil Plunges Nearly 5% as US-Iran Talks Expected to Resume, Will It Fall Further? As of the Asian session on August 26, WTI crude oil (USOIL) prices extended yesterday's decline, dropping to an intraday low of $80.26 and approaching the $80 threshold at one point, down

Author TradingKey

Yesterday 10: 07

As of the Asian session on August 26, WTI crude oil (USOIL) prices extended yesterday's decline, dropping to an intraday low of $80.26 and approaching the $80 threshold at one point, down

Iran and Oman push talks for ‘interim’ reopening of Hormuz — Bloomberg Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.

Author FXStreet

Yesterday 01: 55

Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, Bloomberg reported on Tuesday.

US July PCE Data Preview: Core Inflation May Hold at 3.3%, How Will US Stocks, the Dollar, and Gold React?The U.S. will release the U.S. July Personal Consumption Expenditures (PCE) Price Index on Wednesday, August 26, Eastern Time. As a key inflation indicator closely watched by the Federal

Author TradingKey

Aug 25, Tue

The U.S. will release the U.S. July Personal Consumption Expenditures (PCE) Price Index on Wednesday, August 26, Eastern Time. As a key inflation indicator closely watched by the Federal

Popular Symbols