USD/CNH risks ending November on a negative note. That would be the first negative monthly close after a gap of seven months. The monthly chart is showing early signs of bearish reversal. The USD/CNH (yuan’s offshore exchange rate) looks set to post its first monthly loss since March 2018. At press time, the pair is trading at 6.9399 – down 0.48 percent from the month’s opening rate of 6.9739. Notably, the pair has created a hanging man on the monthly chart – a candlestick pattern which indicates the waning influence of the bulls. The hanging man pattern could be considered a sign of impending bearish reversal, which would be confirmed if and when the pair finds acceptance below 6.8521 (low of hanging man candlestick). A negative follow-through, however, would remain elusive if weekend’s Trump-Xi meeting fails to produce at the very least a pause in the trade dispute. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBA to keep rates at record lows until 2020 – Reuters Poll FX Street 4 years USD/CNH risks ending November on a negative note. That would be the first negative monthly close after a gap of seven months. The monthly chart is showing early signs of bearish reversal. The USD/CNH (yuan's offshore exchange rate) looks set to post its first monthly loss since March 2018. At press time, the pair is trading at 6.9399 - down 0.48 percent from the month's opening rate of 6.9739. Notably, the pair has created a hanging man on the monthly chart - a candlestick pattern which indicates the waning influence of the bulls. The hanging man pattern could… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
