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: Expected to trade between 7.2200 and 7.2430 – UOB Group

Source Fxstreet

US Dollar (USD) is expected to trade between 7.2200 and 7.2430 vs Chinese Yuan (CNH). In the longer run, сurrent price movements are likely part of a 7.2100/7.2800 consolidation range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Current price movements are likely part of a consolidation range

24-HOUR VIEW: "We expected USD to 'trade between 7.2200 and 7.2430 yesterday.' USD then traded in a narrower range of 7.2215/7.2371, ending the day little changed at 7.2274 (+0.02%). The price action provides no fresh clues, and we continue to expect USD to trade between 7.2200 and 7.2430."

1-3 WEEKS VIEW: "Our most recent narrative was from last Friday (14 Mar, spot at 7.2490), wherein 'the current price movements are likely part of a 7.2100/7.2800 consolidation range.' USD traded in a relatively quiet manner over the past few days and there is no change in our view."

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

Recommended Articles

Gold Price Forecast: Can Gold Hold $4,020 as Fed Rate Hike Expectations Rise? As of the Asian session on July 30, gold prices ( XAUUSD) surged and then retraced following the Federal Reserve meeting, once falling to $4,028.62 during the session. From a market persp

Author TradingKey

13 hours ago

As of the Asian session on July 30, gold prices ( XAUUSD) surged and then retraced following the Federal Reserve meeting, once falling to $4,028.62 during the session. From a market persp

WTI falls below $83.00 despite hostilities in the Middle East West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.80 during the early Asian trading hours on Thursday. WTI falls amid some profit-taking despite escalating conflicts in the Middle East.

Author FXStreet

20 hours ago

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.80 during the early Asian trading hours on Thursday. WTI falls amid some profit-taking despite escalating conflicts in the Middle East.

SEC Chair Backs CLARITY Act as Crypto Rally Stalls and Bitcoin Stays Below $65,000 With the FOMC rate decision looming, the US SEC Chairman's support for the CLARITY Act has a very limited impact on the crypto market.On July 29, US SEC Chairman Paul Atkins voiced suppor

Author TradingKey

Yesterday 10: 22

With the FOMC rate decision looming, the US SEC Chairman's support for the CLARITY Act has a very limited impact on the crypto market.On July 29, US SEC Chairman Paul Atkins voiced suppor

WTI rebounds from two-week low, well bid around mid-$81.00s amid Iran risks West Texas Intermediate (WTI) – the benchmark US Crude Oil price – gains strong positive traction during the Asian session on Wednesday, snapping a three-day losing streak to an over two-week low touched the previous day.

Author FXStreet

Yesterday 01: 18

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – gains strong positive traction during the Asian session on Wednesday, snapping a three-day losing streak to an over two-week low touched the previous day.

Fed Decision Eve: 104 Economists Expect No Change; Why Is Citadel Securities Betting on a Surprise Hike?The Federal Reserve will announce its July interest rate decision on July 29, Eastern Time. The current target range for the federal funds rate remains at 3.5%-3.75%, but the suspense sur

Author TradingKey

Jul 28, Tue

The Federal Reserve will announce its July interest rate decision on July 29, Eastern Time. The current target range for the federal funds rate remains at 3.5%-3.75%, but the suspense sur

Popular Symbols