USDCNHWAIT for the G20 at Osaka between USA and CHINA.
Taking the fact the buyer always has the upper hand we conclude that China will not have a good deal.
USDCNH
USDCNH: Calm Before StormThe pair is in a consolidation, which looks like a triangle.
It will shoot up and could reach 7 handle.
Bitcoin come back is from Yuan devaluingAs you can see Bitcoin's come back is due to one main reason, the Chinese Yuan is declining. #Bitcoin #BTC $BTC #crypto #cryptocurrencies
USDCNH: Weekly downtrend expirations...Weekly T@M signals imply $USDCNH might be basing before rallying from this juncture. Will be interesting to monitor developments in this pair, as fundamentals present complex issues, related to trade talks with the US and the price of commodities as well.
The largest distribution pattern led to a signal that exceeded the target, but ran out of time, followed by a smaller distribution pattern, which is 1 week before its time expiration. IF price doesn't go any lower, odds are this pair bottomed here and will retest recent highs, and possibly trend even higher over time.
Best of luck,
Ivan Labrie.
USDCNH [1-3 weeks view]LONG USDCNH
Entry: 6.7120
SL : 6.68455
TP : 6.8300
Market reacted and broke above descending trendline resistance (now support).
Market also now above EMA (34).
MACD also shows a bullish crossover and now also entering bullish territory.
USD/CNH 3 wave countWatch out for corrections for buys for USD/CNH to break out to make one more high on 4hr. I at least would expect a 3 wave to break trend line considering this small wave appears to be an impulse wave.
USD/CNH DailyI've been saying if usdcnh takes off to the upside it can be a large trade out of an expanded flat. It has double bottomed and bounced off the 800MA on daily twice and turned up. The horizontal green line was marked at the 200MA on the weekly as of right now. So even of it were to correct for one more wave down to that level I would still expect at least a larger 3 wave correction to occur IF it was to continue a downtrend.
USDCNH 1D LONG !!!as we see USDCNH make a double bottom and it's already break the trendline.
so we have to wait for the candle breakout from the neckline.
Tides May Turn for USDCNHJust minutes ago, Reuters reported that Lightheizer and Mnuchin are going to Bejing for talks. However, trade war detente is now not on the table until June. Trump threatens to keep tariffs on if China won't hold up their end of the deal on intellectual property. Honestly its not looking good. It is difficult to tell if this trend will continue to go negative and if Trump holds an all out assault in the trade war against everyone and anyone he can get his hands on. This may be the world we live in by the end of 2019. Who knows. But clearly, the talks are no longer going as well as we once thought and also let's keep in mind how Trump walked away from Kim Jong Un in Hanoi. This is what we are trending towards now which would be quite detrimental to markets in spite of Trump's desire for a deal which is quite strong and in spite of his sensitivity towards the stock markets which we also know he is quite sensitive to as well. However in the end, in order for these negotiations to go well Trump needs at least the idea that he can create a positive message at the end.
That's the fundie picture. I'll much more briefly talk technicals. Overall, we are trending towards oversold with the USD even though the momentum is still trending in that direction. If you like my analysis, read some more words and check out some more charts here: www.anthonylaurence.wordpress.com
Buying the dip in USDCNHHere we are getting very close to the moves and trading the initial breakup in this final 5th wave on the large timeframes (see attached: "Adding upside exposure on a correction" for more details on this count).
Dollar strength is coming to our screens, time to position.
Best of luck
USDCNH long swing trade setupUSDCNH long swing trade setup based on higher lows and momentum to upside 4H. See chart for details. Not financial advice.
AUDUSD 0.7300 is the next destination for Aussie bulls ?AUD/USD continues to recover and has made back the losses from the outside day to the downside on Thursday,
Bulls have to break above 0.7180 resistance to travel to 0.7220 and ultimately to 0.7300 to the upside.
Support is at 0.7150, 0.7120 and 0.7100 figure.
Adding upside exposure on a correction=> Here we have a very interesting playing field ... an unsurprising result with the political mess.
=> Today we are continuing to overlook the macro and focus on technicals as we have macro updates and expectations coming in our end of year reports.
=> So lets get started....
=> As with the rest of USD pairs this has been corrective since October and anything towards 6.74 should been seen as an opportunity to re-engage in adding upside exposure.
=> We eventually see potential in this continuing towards 7.00 and a break here will unlock the ladder for 7.10 and give scope up to 7.21.
=> We recommend buying dips as they will be competitive and don't see room for a pullback much lower than 6.78-6.74.
=> Best of luck for those in Yuan pairs and those sidelined looking to add dollar exposure.
USDCNH: Poised to test 6.35 levelsUSD/CNH seems poised to test 6.35 levels. Positive developments from the trade talks should do it!
USDCNH- Trend Continuation of downward movementIt has been a roller coaster ride from the top , this trade idea is trend continuation trade from the top. Now USDCNH is forming a nice flag and will break down soon . For those who like to take risk , can enter sell with reasonable risk , otherwise wait for it to break the trend line and join the sell. Hope this helps. Don't forget to moon up the likes and your comment will be welcome
USDCNH: buying opportunityOn the hourly chart of USDCNH, the price has finished the 1-5 Elliott structure with strong impulse wave (A), I expect the price to start correcting to local Fibo levels in the nearst future. There we would find an optimal long signal. I will keep you posted! What are your thought on USDCNH?
Going Down SoonLove this pair, been riding this thing for a long time, go out when it retraced and now I'm ready to get back in. Watching price action, we should see it stop at this resistance zone, I don't see it going very high up into the zone, but watch price action and when you see bearish momentum in shorter time frames look to get in. There is also bearish divergence on the 4hr, pretty sure this will be going down here for a long while, ride this one down to 6.26 level.
USDCNHShort in this channel. Looking to short again if it breaks the lower trend line as it would agree with China's current economic turmoils.
USD/CNHRight above the 200MA on daily. Coming out off trend fib zone. Potentially a very large buy up for more structure, or will correct to continue downtrend.
Asia Forex: Comparison chart vs USDFor the purposes of taking a broader view of movements in forex markets...
Chart: 1-year performance of JPY, THB, MYR, CNY, IDR, INR vs the USD (inverted)
Since October, there has been a marked improvement in the performance of Asian currencies. The change means Asian currencies have paired losses over the last 12 months, with the yen and Tai bot entering the black.
A relief rally or turning point for Asia FX?
USDCNH: Heading towards 6.69Waiting for a bounce back to broken support for before more declines to 6.69
