人民幣對盧布 技術分析 - 人民幣對盧布 交易: 2019-05-08

Preparing for US-China trade negotiations and publication of statistics

In this review, we suggest considering the personal composite instrument (PCI) CNHRUB. It reflects the price dynamics of the Chinese yuan against the Russian ruble. Will the CNHRUB rise?

On the daily timeframe, CNHRUB: D1 is in a downtrend, but it has approached its resistance line. Before opening a buy position, the CNHRUB should breached it up. A number of technical analysis indicators formed buy signals. The further price increase is possible in case of positive macroeconomic and political data from China and statements about a rate cut by the Central Bank of the Russian Federation.

• The Parabolic Indicator gives a bullish signal.
• The Bollinger bands have narrowed, which indicates high volatility. The lower Bollinger band is titled upward.
• The RSI indicator is below 50. It has formed a positive divergence.
• The MACD indicator gives a bullish signal.

The bullish momentum may develop in case CNHRUB exceeds the upper Bollinger band, the last fractal high, the 200-moving average line and the resistance line of the downtrend at 9.72. This level may serve as an entry point. The initial stop loss may be placed below the two last fractal lows, the Parabolic signal, the low since November 2017 and the lower Bollinger band at 9.45. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (9.45) without reaching the order (9.72), we recommend to close the position: the market sustains internal changes that were not taken into account.

Summary of technical analysis