EURCNH Forecast
The EURCNH pair has recently broken out of its bearish
channel, as seen on the daily chart. Currently, it’s testing the 7.841 resistance level, which aligns with the upper band of the bullish channel and the
Ichimoku cloud. The overall trend for EURCNH is bullish, with the RSI indicator consistently above the 50 level. Therefore, analysts at FxNews suggest that this could be a good time to look for opportunities to place buy orders.
For a more detailed view of the EURCNH price action, we turn to the 4-hour chart. Here, the RSI is nearing the overbought zone and showing
divergence, signaling a potential price correction or trend reversal. Based on these chart data, there’s a possibility that the price might fall to the middle line of the bullish channel, followed by S1. Both these levels could offer attractive prices for going long on EURCNH.
Remember, it’s essential to keep an eye on these key levels and indicators to make informed trading decisions. Stay tuned for more updates and analysis on the EURCNH pair.
Please note that this is just a EURCNH forecast and actual market conditions may vary. Always trade responsibly.