HELLO GUYS THIS MY IDEA 💡ABOUT is nice to see strong volume area.... Where is lot of contract accumulated.. I thing that the Seller from this area will be defend this SHORT position.. and when the price come back to this area, strong SELLER will be push down the market again.. DOWNTREND + Support from the past + Strong volume area is my mainly reason for this...
Price broke up this triangle📐 and I think there is chance for run to 6.92 and even higher. Setting BUY LIMIT order to previous range high to catch🎣 the pullback. Resistances along the way ENTRY : local high @ 6.735 STOPLOSS (SL) : local low @ 6.668 TARGET (TP) : height of the triangle projected from midpoint of the local range (BUY LIMIT - STOPLOSS) @ 6.92 ...
Following a few months of consolidation, the US Dollar seems to be making some upside progress against the Chinese Yuan. Fundamentally speaking, a hawkish Federal Reserve and dovish People's Bank of China offer upside potential for USD/CNH. This also follows measures from China's government (about 1 trillion Yuan) to bolster the economy. In response, USD/CNH is...
The US Dollar has been rising against the Chinese Yuan in June so far. On the 4-hour chart, USD/CNH appears to be carving out a bullish Falling Wedge chart formation. A breakout above, with resistance as the 23.6% Fibonacci extension at 6.7304, opens the door to perhaps revisiting the May high at 6.8375. Otherwise, a turn back lower towards 6.6131 would keep the...
The US Dollar may regain its footing against the Chinese Yuan amid favorable fundamental headwinds. China's zero-Covid policy has been weighing on local economic output. Meanwhile, rising fears of a recession in the US are slowly weakening global growth expectations. This leaves China in a tricky spot, even if conditions open up locally. A slowing global economy...
The deal was done. The Chinese Currency deal was done with R/R: 8.6 in 100 D :D
FX:USDCNH The Chinese currency is in the lowest price range since 2018 Yuan is in the Support Area China Yuan Support Range : 6.31000-6.40000 Entry Price :6.35000 1st TP: 6.47000 R/R: 3 2nd TP: 6.59000 R/R: 6 3rd TP: 6.69500 R/R: 8.5 SL: 6.31000
USDCNH Symmetrical Triangle (Series of Lower Highs and Higher Lows)
USDCNH | Trend Line; Exponential Moving Averages; Pin Bar; Higher Lows; Up Trend
Well, as we can see, the price has broken its static resistance with enough strength and is moving towards our target range. The targets are 114 and 115.85. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @Ar_M_An_4 📅 11.Oct.2021 ⚠️(DYOR)
🏛 USD_CNH broke out of the falling channel And also broke the horizontal key level Which now serves as the support confluence And is being retested by the pair I am bullish now, and I think that after the retest The pair will go up to retest the next horizontal resistance level LONG🚀 ✅Like and subscribe to never miss a new idea!✅
ING discussed its expectations for the USDCNY in a recent note to clients. Finally, the PBoC acts to deter yuan appreciation After several rounds of talking down yuan appreciation, China's central bank has now taken some firmer action. The PBoC will raise fx deposit reserves from 5% to 7% effective from 15th June. This comes after the PBoC appreciated the...
Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current levels for sell.
This is very likely a one-way move (up) here - as all previous examples would illustrate. Most importantly, this is one of (if not "The") most lopsided FX (and debt, and credit, etc.) positioning currently on the entire Globe! (Everyone and everything is currently Net Short the Dollar vs. the Yuan!) Ergo, as this move gets going (up) it is only likely to gain...
Hi there. Price is forming a reversal pattern to change its direction. Wait for the price to form the first impulsive move, then wait for the price to form a continuation pattern and watch strong price action for buy.
A lot can be expected between the US dollar and the Chinese Yuan in the next coming days / weeks. I think history has the best story to tell and here, I share my overall trends in which the USDCNH has been trading. The U.S. dollar greatly depreciated against the Chinese Yuan and created a pin bar on its all time ascending support I think we could potentially see...