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

Tesla Q2 Earnings Preview: Record Deliveries Fail to Hide Profit Pressure, Can Musk Rely on AI and Autonomous Driving to Unlock New Growth Space?Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie

Author TradingKey

5 hours ago

Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie

Crude Oil Price Forecast: Worsening US-Iran Tensions Support Oil Prices Breaking Above $90, Can Brent Crude Return to $100?As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.

Author TradingKey

5 hours ago

As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.

WTI surges above $83.00 amid escalating US-Iran conflict West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.

Author FXStreet

14 hours ago

West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.

Gold Price Forecast: Cooling Inflation Fails to Offset Fed Hawkish Pressure, Gold Price May Fall to $3,500 As of the Asian session on July 17, gold prices ( XAUUSD ) fluctuated around $4,000. However, it is worth noting that gold closed at $3,969.41 yesterday, confirming a break below the $4,0

Author TradingKey

Jul 17, Fri

As of the Asian session on July 17, gold prices ( XAUUSD ) fluctuated around $4,000. However, it is worth noting that gold closed at $3,969.41 yesterday, confirming a break below the $4,0

TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold Off Tracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se

Author TradingKey

Jul 17, Fri

Tracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se

Popular Symbols