US Dollar ($) ⇨ Chinese Yuan (CN¥)(USDCNY) China HEFFX Outlook
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
By the way, prices are vulnerable to a correction towards 6.88.
The projected upper bound is: 6.91.
The projected lower bound is: 6.81.
The projected closing price is: 6.86.
FOREX CNY= closed up 0.002 at 6.865. Volume was 38% below average (neutral) and Bollinger Bands were 72% narrower than normal.
Open High Low Close Volume
6.869 6.874 6.865 6.865 1,268
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 6.87 6.90 6.75
Volatility: 3 5 4
Volume: 1,303 1,458 2,464
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX CNY= is currently 1.7% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of CNY= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CNY= and have had this outlook for the last 3 periods.
HEFFX Candlesticks China
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 20 black candles for a net of 3 white candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
HEFFX Momentum China
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 43.4172. This is not an overbought or oversold reading. The last signal was a buy 13 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.93. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 40 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -37. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 19 period(s) ago.
Latest posts by John Heffernan (see all)
- Oversea-Chinese Banking Corp (OCBC) HEFFX Highlights - March 20, 2019
- DBS HEFFX Highlights - March 20, 2019
- Singapore Airlines Ltd. HEFFX Highlights - March 20, 2019