| Technicals

Become a contributor

Bookmark Econotimes

| Technicals

Australian private new capital expenditure likely fell further in Q3 2020 - ANZ

FxWirePro: Daily Commodity Tracker - 21st March, 2022

NZDJPY Eyes Breakout: Buy the Dip as Bulls Guard 88.70

U.S. personal income and spending rose less than expected in August

AUDJPY Eyes New Highs: Bulls Hold 102 Support, Target 104

U.S. durable goods orders sustain robust growth

U.S. existing home sales decline in August

FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption

U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4

FxWirePro- Bitcoin Whales accumulation (positive for Bitcoin)

Canadian employment likely declined in November, jobless rate to have risen to 9 pct

Germany's unemployment exceeds expectations in September

FxWirePro: USD/CAD downside pressure builds, key support level in focus

FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption

FxWirePro: EUR/AUD poised for further downside after key fibo break

Swiss franc likely to gradually depreciate against euro in coming months

German Ifo business climate index falls sharply in November, economic growth likely to shrink in Q3

Renminbi Series

©Econometrics LLC . All Rights Reserved.

Chinese yuan rises gradually against U.S. dollar, stay short

Friday, January 10, 2020 5:56 AM UTC

USD/CNY is currently trading around 6.9286 marks.
It made intraday high at 6.9492 and low at 6.9274 levels.
Intraday bias remains bearish till the time pair holds key resistance at 6.9540 mark.
A sustained close above 6.93 marks will test key resistances at 6.9540, 6.97, 6.9867, 6.9957, 7.0168, 7.0388, 7.07 and 7.0920 marks respectively.
Alternatively, a daily close below 6.93 will drag the parity down towards key supports at 6.9210, 6.9013, 6.88 and 6.8662 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/CNY around 6.9300, stop loss at 6.95 and target of 6.9210/6.9013/6.88.

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts

Market Data

Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation

Australia Progresses AUKUS Review as U.S. Affirms Strong Support

OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities

Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX

EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp

Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature

Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets

Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains

Ethereum’s Fusaka Upgrade: PeerDAS, Massive Scaling, and Cheaper Layer 2—A New Era Begins

EconoTimes

Disclaimer: EconoTimes provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and EconoTimes specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Brokerage. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. EconoTimes expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Renminbi Series

Chinese yuan rises gradually against U.S. dollar, stay short

Editor's Picks

Welcome to EconoTimes