EUR/USD 1.19146
0.017%
Gold 5029.43
-0.568%
Oil 64.015
-0.409%
USD/JPY 155.256
-0.404%
GBP/USD 1.36907
-0.036%
GBP/JPY 212.559
-0.428%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 10th - The overnight SHIBOR was 1.3620%, up 9.20 basis points; the 7-day SHIBOR was 1.5310%, up 2.60 basis points; the 14-day SHIBOR was 1.6040%, up 2.00 basis points; the 1-month SHIBOR was 1.5510%, up 0.10 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.On February 10th, nine departments, including the Shanghai Municipal Health Commission, issued the "Implementation Opinions on Further Strengthening the Construction and Operation of Community Health Service Institutions in Shanghai." The opinions propose expanding the coverage of contracted services. Family doctor contracted services will be extended to working and school-aged individuals in functional communities, steadily expanding the coverage of contracted services. Online and offline contracting channels will be streamlined, a flexible contracting mechanism of 2-3 years will be implemented, and annual confirmation of family doctor contracted services will be conducted. Residents will be guided to sign contracts as a family unit. The contracted coverage rate for the permanent resident population will increase by 1-3 percentage points annually, achieving the goal of a 60% contracted rate for the permanent resident population by 2030.February 10th - The Shanghai Municipal Government will hold the first press conference in a series on the theme of Shanghais "15th Five-Year Plan" on February 11th. The conference will invite relevant municipal leaders and officials from the Municipal Financial Services Office, the Municipal Development and Reform Commission, the Municipal Science and Technology Commission, the Municipal Housing and Urban-Rural Development Management Commission, and the Municipal Health Commission to attend, introduce the relevant content of the "Outline of Shanghais 15th Five-Year Plan for National Economic and Social Development," and answer questions from reporters.On February 10th, Bank of America Securities issued a report stating that Zijin Mining (02899.HK) has raised its production guidance for 2026-2028. Gold production is expected to reach 130-140 tons in 2028, up from the previous guidance of 100-110 tons; the CAGR (compound annual growth rate) between 2025 and 2028 is 13%-16%. Meanwhile, the company guides copper production to reach 1.5 million-1.6 million tons in 2028, representing a CAGR of 11%-14% between 2025 and 2028. The company has also raised its 2028 lithium production guidance to 270,000-320,000 tons, up from the previous 250,000-300,000 tons, representing a CAGR of 121%-134% between 2025 and 2028. The bank reiterated its view that Zijin Mining is its top pick and maintained its buy rating, with target prices of HK$50 for H-shares and RMB45 for A-shares. The bank believes that the company has strong long-term production growth, strict cost control, and reasonable valuation, in addition to its positive outlook on gold and copper prices.On February 10th, Alibaba DAMO Academy released RynnBrain, a basic model for embodied intelligence, and open-sourced seven full-series models, including 30BMoE.

The chances of a bearish reversal for the USD/CHF rise as bears test the 200-EMA

Daniel Rogers

Jul 19, 2022 11:59

 截屏2022-07-19 上午10.03.58.png

 

The USD/CHF pair has gone sideways after exhibiting volatile volatility on Monday. The asset will likely trade sideways until volatility decreases since it hits resistance at 0.9780. As a result of failing to exceed the crucial resistance level of 0.09000, the asset saw a substantial fall.

 

A major negative reversal was foreseen by the formation of the Double Top chart pattern when the price failed to maintain its position above Tuesday's high at 0.9859. The aforementioned chart pattern frequently indicates waning demand at high levels. A negative reversal is now more likely as a result of the development of a selling tail around high levels.

 

Following the formation of a double top, the asset is forming an initiative selling structure, which points to the entry of those investors who start short positions after a bearish bias has been created. At 0.9767, the major is forming an initiative structure inside the 200-Exponential Moving Average (EMA) border, demonstrating that market participants are respecting the significant EMA.

 

However, the Relative Strength Index (RSI) (14), which signals an oncoming consolidation, has shifted into a range between 40.00 and 60.00. The asset will reach the July 5 top of 0.9705 with a sharp decrease below the July 13 low of 0.9758. If the latter barrier is breached, the asset will be more vulnerable to losses up to the 1. July high of 0.9642.

 

Alternatively, following Wednesday's violation of the 0.9827 high, the dollar bulls may defend the double top pattern. The asset will be propelled by this to its top on Thursday of 0.9886 and then encounter psychological resistance at 1.0000.


Suggestion