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Technical Analysis
Technical Analysis USDCNH : 2020-07-31
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[QUOTE="IFC Markets, post: 183841, member: 18359"] [SIZE=6][B]Recommendation for USD/CNH: Buy[/B][/SIZE] Buy Stop : Above 7,03 Stop Loss : Below 6,96 [TABLE] [TR] [TD]Indicator[/TD] [TD]Value[/TD] [TD]Signal[/TD] [/TR] [TR] [TD]RSI[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [TR] [TD]MACD[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [TR] [TD]MA(200)[/TD] [TD][/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]Fractals[/TD] [TD][/TD] [TD]Neutral[/TD] [/TR] [TR] [TD]Parabolic SAR[/TD] [TD][/TD] [TD]Buy[/TD] [/TR] [TR] [TD]Bollinger Bands[/TD] [TD][/TD] [TD]Neutral[/TD] [/TR] [/TABLE] [SIZE=6][B]Chart Analysis[/B][/SIZE] [IMG alt="IFC Markets Tech Analysis"]https://ifccd.net/uploads/image/tanalysis/new/f8a38356e8e90eb9ef8168c80f3c87efbcfb01a4.png[/IMG] On the daily timeframe, [B] USDCNH: D1 [/B] exited the downtrend. A number of technical analysis indicators formed signals for a further growth. We do not rule out a bullish movement if [B] USDCNH [/B] rises above the last upper fractal: 7.03. This level can be used as an entry point. We can set a stop loss below the Parabolic signal and 2 last lower fractals: 6.96. After opening a pending order, we should move the stop loss to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop-loss, moving it in the direction of the trend. If the price meets the stop loss (6.96) without activating the order (7.03), it is recommended to delete the order: the market sustains internal changes that haven't been taken into account. [SIZE=6][B]Fundamental Analysis[/B][/SIZE] The US dollar rate began to strengthen slightly after the regular Fed meeting, at which no additional economic stimulus through emission was announced. Will the USDCNH quotations rise? [/QUOTE]
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