FPG USDCNH Market Report April 16, 2025

USDCNH is exhibiting a medium-term bullish structure, with price traded above the Ichimoku cloud, a key signal of underlying bullish momentum. Recent price action shows a strong bounce from support, with the pair now challenging horizontal resistance zones in a potentially trend-continuation setup.

Price is currently around 7.3295, positioned just below horizontal resistance at 7.3623. The recent bullish candle shows a strong recovery after testing support near 7.2336, suggesting renewed demand. The market remains volatile, with long wicks on both sides indicating rejection of extremes.

The Ichimoku system confirms bullish conditions: price is clearly above the Kumo (cloud), while the Tenkan-sen is crossing above the Kijun-sen, an early bullish TK cross. The Chikou Span is also free above past price action, reinforcing bullish outlook. Stochastic (5,3,3) is hovering near 48.08, showing room for upward momentum without being overbought yet.

Market Observation & Strategy Advice:

1. Key Resistance Level: 7.3623 – Major barrier for bulls; a weekly close above this level would confirm breakout and open 7.40+.

2. Current Position: 7.3295 – Price traded above the Ichimoku cloud with bullish structure intact.

3. Support Level: 7.2336 – Key weekly support; holds as the invalidation zone for bullish continuation.

4. Momentum Indicator: Stochastic (5,3,3) at 48.08 signals potential for further upside with momentum buildup.

5. Trading Strategy: Bullish setups favored above 7.3296, with breakout confirmation on a close above 7.3623. Longs targeting 7.40–7.42 with stops below 7.28. If price fails at resistance, look for pullbacks toward 7.26–7.24 as buying opportunities, while maintaining bullish bias unless price drops below 7.2336.

Market Performance:

Forex Last Price % Change

EURUSD 1.1312 +0.30%

USDJPY 142.80 −0.30%

Todays Key Economic Calendar:

CN: GDP Growth Rate YoY

UK: Inflation Rate YoY

US: Retail Sales MoM

CA: BoC Interest Rate Report

Risk Disclaimer This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.