US DOLLAR / CHINESE OFFSHORE YUANUSDCNH
Online chart exchange rate US dollar offshore yuan*
Interest in the Chinese yuan began about five years ago. Trading “Renminbi”, as it is called by the Chinese themselves, in conjunction with the Us dollar was not offered by all brokers. And there was no question of getting more or less high- quality online quotes.
Today, the situation on Forex has changed radically. you can view the history of the trading instrument over the past 5 years on our charts . The online chart allows you to set the necessary time frame, and conduct high -quality technical analysis using popular indicators.
WHAT IS YOUR FORECAST FOR USDCNH
Investment in the Chinese yuan does not always go smoothly, the main problem is that the Central Bank of China begins to intervene as soon as the value of the currency goes out of a certain price range. It is quite difficult to predict the consequences of deliberate interventions.
However, with relatively quiet volatility, when USDCNH moves in a range, most traders prefer to use the market sentiment widget. The indicator shows preferences in buying or selling the renminbi.
If the activity of speculators is guided by a “bullish” trend, the indicator will move to the extreme right. And accordingly, everything will be the opposite with “bearish” trends. Moreover, the neutral value of the widget arrow indicates the flat state of the market.
News on the USDCNH
To confirm the strategy, in long- term trading, trading professionals are guided by the Forex economic calendar. The main advantages of the indicator widget are a timely warning about news output and a flexible filter that can be used to filter out “weak” news.