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USDCNH

USDCNH ShortDespite the People’s Bank of China (PBOC) has announced to cut its Reserve Require Ratio (RRR) by 100bps on Friday, however it looks like a no brainier to me to short the USDCNH now with a SL around 6.98. I know some banks has immediately improved its USDCNY target price to above 7.1 after the news, however the chart seems to be showing the opposite and it just do not make sense for China to allow its currency to further depreciate when they have USD 1.3 trillion external debt and are already in credit crunch.
Short
by Wongmago
Yuan sharp reversalThis morning we saw another one sharp reversal of Yuan to growth. In the previous month, the People's Bank of China actively engaged in interventions in the foreign exchange market and spent on it more $34 bln, protecting national currency from disordrly decline, although it did not interfere USDCNH’s from crawling up. In November, we have already seen a couple of sharp kickbacks of the pair associated with good news from China, but the scale of the decline suggests that it was also the intervention of the PBC. However, such interventions do not fundamentally change the sentiment in the markets, and the moment of growth should be a quick return to the fundamental trend.
Short
by AlexKuptsikevich
USDCHN, worth the shotThe pattern is a bit unclear, but because the RR is so great i am taking the risk here. Starting small and increasing on the break of the yellow zone. Think we might make a lower high on the daily, so it could potentially drop a lot coming weeks. Making the RR enormous, which makes it worth the risk for me. I am using the stop loss, but in case we move only slightly higher but start to drop again (false breakout), i will probably short it again when that yellow zone breaks.
Short
by botje11
1
USD/CNH Sell Idea (Potentially Major)This pairing has been unable to break above the $7 dollar resistance - rejected in Dec 16' and again in Oct 18'. I will be looking at a short position after technical and fundamental factors have lined up in favour of this direction. The US Mid-term elections have softened the dollar rally that began just before summer 2018. However, I will not be opening any positions until trend-line A has been broken. Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. If you stick by a smart trading plan you can substantially reduce your exposure to losses.
Long
by StirlingBishop
1
Obvious ShortWe all know that the Yuan does not float like western currencies and there is consistent manipulation on a daily basis in terms of the Yuan's strength. I believe a revaluation and true appreciation of the Yuan is due, with technical (RSI=70), geo-political (Trade Tariffs between China and Us will never end well, china has mad treasury bonds that they can drop on the market at any time), and overall fundamental (Overbought) signals a huge short on the USDCNH. Tangentially, I have never seen the USDCNH breach the 7.00 USD threshold not that China cant manipulate it either way but the recent losses in the chinese stock market show a need for an appreciating Yuan. Let me know what you think. Not that I care because I make mad money kidd.
Short
by MaxPatWellVI
USDCNH (H4): Short-Term PlayUSDCNH Timeframe: H4 Direction: Short Confluences for Trade: - Around Resistance Line of Previous High - Stochastic Overbought momentum - Fundamentally, China has seem to be slowing moving towards a psychological level of 7.00.Currently, the previous high proves to provide some resistance and we can take this as a short term opportunity to short USDCNH. Suggested Trade: Entry @ Area of Interest 6.9370 - 6.9550 SL: 6.9670 TP: 6.8736 RR: Approx. 2.11 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst