EUR/CNH – Currency exchange rate forecast 23.08.2019: below its lower Bollinger band

EUR/CNH - Currency exchange rate forecast 23.08.2019: below its lower Bollinger band

Alternative scenario: above 7.86, look for 7.87 and 7.89.

Our pivot point stands at 7.86.

Our preference: the downside prevails as long as 7.86 is resistance.

Alternative scenario: above 7.86, look for 7.87 and 7.89.

Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 7.85 and 7.86). Finally, the EUR/CNH is trading below its lower Bollinger band (standing at 7.84).

Supports and resistances:

7.89 **

7.87 *

7.86 **

7.85

7.84 last

7.81

7.80 **

7.79 *

7.78 **

EUR/CNH – Currency exchange rate forecast 20.08.2019 : the downside prevails as long as 7.85 is resistance

EUR/CNH - Currency exchange rate forecast 20.08.2019 : the downside prevails as long as 7.85 is resistance

Alternative scenario: the upside breakout of 7.85 would call for 7.87 and 7.88.

Our pivot point is at 7.85.

Our preference: the downside prevails as long as 7.85 is resistance.

Alternative scenario: above 7.85, look for 7.87 and 7.88.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 7.84 and 7.84).

Supports and resistances:

7.88 **

7.87 *

7.85 **

7.85

7.84 last

7.81

7.80 **

7.79 *

7.78 **

EUR/CNH Currency exchange rate forecast 16.08.2019: rebound towards 7.86

EUR/CNH Currency exchange rate forecast 16.08.2019: rebound towards 7.86

Alternative scenario: the downside breakout of 7.81 would call for 7.79 and 7.78.

Our pivot point is at 7.81.

Our preference: rebound towards 7.86.

Alternative scenario: the downside breakout of 7.81 would call for 7.79 and 7.78.

Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading above its 20 MA (7.83) but under its 50 MA (7.84).

Supports and resistances:

7.89 **

7.88 *

7.86 **

7.85

7.83 last

7.82

7.81 **

7.79 *

7.78 **

EUR/CNH Currency exchange rate forecast 15.08.2019: above its upper Bollinger band

EUR/CNH Currency exchange rate forecast 15.08.2019: above its upper Bollinger band

Alternative scenario: the downside breakout of 7.85 would call for 7.83 and 7.82.

Our pivot point stands at 7.85.

Our preference: the upside prevails as long as 7.85 is support.

Alternative scenario: the downside breakout of 7.85 would call for 7.83 and 7.82.

Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 7.85 and 7.86). Finally, the EUR/CNH is trading above its upper Bollinger band (standing at 7.87).

Supports and resistances:

7.94 **

7.93 *

7.91 **

7.90

7.88 last

7.86

7.85 **

7.83 *

7.82 **

EUR/CNH Currency exchange rate forecast 13.08.2019: above its upper Bollinger band

EUR/CNH Currency exchange rate forecast 13.08.2019: above its upper Bollinger band

Alternative scenario: the downside breakout of 7.95 would call for 7.93 and 7.91.

Our pivot point stands at 7.95.

Our preference: the upside prevails as long as 7.95 is support.

Alternative scenario: below 7.95, expect 7.93 and 7.91.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 7.95 and 7.96). Finally, the EUR/CNH is trading above its upper Bollinger band (standing at 7.96).

Supports and resistances:

8.02 **

8.01 *

8.00 **

7.99

7.96 last

7.95

7.95 **

7.93 *

7.91 **

EUR/CNH Currency exchange rate forecast 12.08.2019: our next up target stands at 7.99

EUR/CNH Currency exchange rate forecast 12.08.2019: our next up target stands at 7.99

The MACD is above its signal line and negative.

Our pivot point is at 7.94.

Our preference: our next up target stands at 7.99.

Alternative scenario: below 7.94, expect 7.92 and 7.91.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the pair is above its 20 and 50 MAs (respectively at 7.95 and 7.95).

Supports and resistances:

8.01 **

8.00 *

7.99 **

7.98

7.95 last

7.94

7.94 **

7.92 *

7.91 **