{"id":4856,"date":"2023-09-22T11:22:29","date_gmt":"2023-09-22T03:22:29","guid":{"rendered":"https:\/\/www.umtradings.com\/?p=4856"},"modified":"2023-09-22T11:22:29","modified_gmt":"2023-09-22T03:22:29","slug":"9-22-fx-daily-usd-cnh","status":"publish","type":"post","link":"https:\/\/www.umtradings.com\/de\/9-22-fx-daily-usd-cnh\/","title":{"rendered":"Focus On USD\/CNH Today – 22nd Sep 2023"},"content":{"rendered":"
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Comprehensive USD\/CNH Analysis for September 22, 2023<\/strong><\/h1>\n\n\n\n

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USD\/CNH for 22nd September 2023.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Key Takeaways<\/strong><\/h2>\n\n\n\n

The Federal Reserve’s Decision<\/a><\/strong>: In September, the Federal Reserve made a pivotal decision to halt interest rate hikes. The dot plot hints at the possibility of future rate increases. <\/p>\n\n\n\n

Furthermore, the overall monetary policy for the upcoming year leans towards a more hawkish stance, with a shift from an anticipated 5 interest rate cuts to just 2. <\/p>\n\n\n\n

These factors collectively maintain the US dollar’s dominance, momentarily placing non-US currencies at a disadvantage.<\/p>\n\n\n\n

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USD\/CNH Technical Analysis<\/strong><\/h2>\n\n\n\n
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USD\/CNH Daily Chart Signals<\/em><\/strong><\/h3>\n\n\n
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\"USD\/CNH<\/figure>\n<\/div>\n\n\n

(Daily chart of USD\/CNH, source: Ultima Markets MT4) <\/em><\/p>\n\n\n\n

Rebound and Candle Pattern<\/strong>: Our analysis of the daily chart reveals an interesting rebound in the USD\/CNH pair after reaching the 33-day moving average. <\/p>\n\n\n\n

This rebound pattern closely resembles a head and shoulders candle formation. This chart development signifies a potential right shoulder formation.<\/p>\n\n\n\n

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USD\/CNH 4-Hour Chart Dynamics<\/em><\/strong><\/h3>\n\n\n
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\"USD\/CNH<\/figure>\n<\/div>\n\n\n

(4-hour chart of USD\/CNH, source: Ultima Markets MT4) <\/em><\/p>\n\n\n\n

Rebound Magnitude<\/strong>: Transitioning to the 4-hour chart, we observe that the recent rebound of USD\/CNH has reached a significant level, approximately 1.618 times the rebound height recorded on September 14. <\/p>\n\n\n\n

It is vital to keep a close watch on market movement below the 65-period moving average to gain insights into the conclusion of the market rebound.<\/p>\n\n\n\n

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Insights from the 1-Hour Chart<\/em><\/strong><\/h3>\n\n\n
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\"Insights<\/figure>\n<\/div>\n\n\n

\uff081-hour chart of USD\/CNH, source: Ultima Markets MT4) <\/em><\/p>\n\n\n\n

Equilibrium in the Market<\/strong>: On the 1-hour chart, the moving average remains a pivotal support for the market. <\/p>\n\n\n\n

The stochastic oscillator hovers around the middle area at 50, indicating an equilibrium between bullish and bearish sentiments. <\/p>\n\n\n\n

To confirm the initiation of short positions, a market movement below the moving average group is crucial.<\/p>\n\n\n\n

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Ultima Markets Pivot Indicator<\/em><\/strong><\/h3>\n\n\n
\n
\"Ultima<\/figure>\n<\/div>\n\n\n

(1-hour chart of USD\/CNH, source: Ultima Markets MT4) <\/em><\/p>\n\n\n\n

Key Price Level<\/strong>: According to the pivot indicator in Ultima Markets MT4<\/a>, the central price for the day stands at 7.31286. <\/p>\n\n\n\n

A bullish sentiment prevails above this level, with the first target at 7.32288 and the second target at 7.33139. <\/p>\n\n\n\n

Conversely, a bearish stance is favored below 7.31286, with the first target at 7.30435 and the second target at 7.29450.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Conclusion<\/h2>\n\n\n\n\n\n
<\/div>\n\n\n","protected":false},"excerpt":{"rendered":"

Comprehensive USD\/CNH Analysis for September 22, 2023 In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USD\/CNH for 22nd September 2023. Key Takeaways The Federal Reserve’s Decision: In September, the Federal Reserve made a pivotal decision to halt interest rate hikes. The dot plot hints at the possibility of future rate […]<\/p>\n","protected":false},"author":13,"featured_media":4872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[124,125],"tags":[75],"class_list":["post-4856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-technical-analysis","tag-usd-cnh"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/posts\/4856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/comments?post=4856"}],"version-history":[{"count":0,"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/posts\/4856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/media\/4872"}],"wp:attachment":[{"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/media?parent=4856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/categories?post=4856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.umtradings.com\/de\/wp-json\/wp\/v2\/tags?post=4856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}