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 narrower range of 7.2500/7.3300 – UOB Group

Source Fxstreet

US Dollar (USD) is expected to trade in a range between 7.3000 and 7.3200. In the longer run, outlook remains mixed, but USD is likely to trade in a narrower range of 7.2500/7.3300, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Outlook for USD remains mixed

24-HOUR VIEW: "USD traded in a subdued manner and closed largely unchanged two days ago. Yesterday, we pointed out that 'momentum indicators are mostly flat.' We expected USD to 'trade in a range between 7.3000 and 7.3200.' Our view of range trading was not wrong, even though USD traded in a slightly higher range of 7.3050/7.3249. USD closed largely unchanged at 7.3110 (+0.01%). Momentum indicators remain flat, and we continue to expect USD to trade in a range between 7.3000 and 7.3200."

1-3 WEEKS VIEW: "We highlighted last Friday (07 Feb, spot at 7.2865) that 'while the outlook remains mixed, the decreasing volatility over the past couple of days suggests USD could trade in a narrower range of 7.2500/7.3300.' There is no change in our view."

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

Recommended Articles

Solana (SOL) Faces Continued Downside Risk—More Losses Likely Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.

Author NewsBTC

May 06, Tue

Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.

Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in May Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.

Author Beincrypto

May 07, Wed

Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.

Ethereum Price Ready to Surge—$2,000 Level Could Be Within Reach Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.

Author NewsBTC

Yesterday 03: 39

Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.

Sui Price Forecast: SUI bulls aim for 15% gains as open interest and bullish bets increase among traders Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.

Author FXStreet

21 hours ago

Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.

Ethereum To ‘Witness Big Breakout’ In The Next Two Weeks If This Level Holds As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.

Author NewsBTC

21 hours ago

As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.

Related Instrument