USDCNH top-down analysisHello Traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCNH
USDCNH top-down analysisHi Guys, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis video. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover my next analysis.
Also let me know your thought in the comment section what you think about this pair.
🏛USD_CNH BREAKOUT! WILL GO UP|LONG🇺🇸🇨🇳
🏛 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!✅
USDCNH full breakdown and top-down analysisHello traders, in USDCNH we see a bearish momentum on the Monthly, weekly and daily.
The price has just previous monthly support as resistance and showing some kind rejection and looks like price started to meltdown.
I have shown how we will be trading these instruments. Please like this idea if you find value and leave comment about how you think on this idea.
Thank you.
USDCNH Facing Bearish Pressure | 9th June 2021USDCNH broke below ascending trendline support (now resistance). Price has also tested and pulledback below this trendline resistance. A further drop below our entry and Key 61.8% Fibonacci retracement level at 6.40076, with a possible downside target at 6.37686 could be possible. Our take profit at 6.37686 is also in line with a Fibonacci confluence zone where we have -27.20% Fibonacci retracement and 100% Fibonacci extension .
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCNH | Perspective for the new week The price moved against expectation as it continues to find lower lows in the last one month (you might want to see the link below for reference purposes);
As part of China’s move to create awareness of its digital Yuan, authorities in Shanghai is planning to distribute $3 million worth of the central bank-issued currency among residents of Shanghai in the form of a lottery. Coupled with the appearance of a Descending Channel, this development appears to give a level of cynosure for investors as I anticipate a risk of further decline for the USDCNH pair in the coming week(s).
Tendency: Downtrend (Bearish)
Structure: Supply & Demand | Channel | Breakdown | Harmonic pattern (AB = CD)
Observation: i. Since late March 2021, the price has been caught up within a Descending channel as the Greenback experiences risk of further decline in the nearest future.
ii. As represented on the chart, connecting the lower highs and lower lows of price action with parallel trendlines reveals a downward trend that appears to hold following the Breakdown and retest of Y6.41000.
iii. Below the Key level @ Y6.39600 remains a yardstick for entry opportunity as I look forward to a transition into a Harmonic pattern (AB = CD) with parameters explained below;
a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg.
b. The B- to-C leg is currently at 61.8% Fibonacci retracement (with the possibility of a 78.6%) of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B move @ Y6.32000 area.
Trading plan: SELL confirmation with a minimum potential profit of 550 pips.
Risk/Reward : 1:4
Potential Duration: 4 to 8 days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
The dollar is close to a 5-year support against the yuanDescription :
Movements between the two currencies fluctuate sharply, as the dollar has fallen about 10 percent against the yuan since last year.
But it is close to a support that is about 3 years after the last collision. Also, the dollar index has been declining over the past year. It is possible that we will see the sheet return after the support collision as in the past.
USDCNH Top-down analysisHi Guys, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis video. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover my next analysis.
Also let me know your thought in the comment section what you think about this pair.
USDCNH - Double Bottom USDCNH has been technically sound. Been following all the rules of technical patterns. As we're anticipating USD strength, we may see a push up for this pair. It looks to have reversed at the perfect place where it created a double bottom
Please note that trading exotic pairs carries bigger risks than trading major pairs.
Goodluck and trade safe!
USDCNH - Double BottomUSDCNH has been technically sound. Been following all the rules of technical patterns. As we're anticipating USD strength, we may see a push up for this pair. It looks to have reversed at the perfect place where it created a double bottom
Please note that trading exotic pairs carries bigger risks than trading major pairs.
Goodluck and trade safe!
USDCNH | Perspective for the new weekThe prospects for further downside in USD/CNH remain a dominant subject amongst market makers as China is rolling out a digital yuan that will make her the world's second-largest economy the first country to create its own digital currency; I see a Reversal setup building up with structural tendencies that might drive the Greenback to higher highs in the coming week(s).
Tendency: Uptrend ( Bullish )
Structure: Breakout | Supply & Demand | Reversal pattern
Observation: i. Since mid-February 2021; the price of the Dollar has risen as it continues to find Higher highs until a successful Breakout of Key level happened early in March 2021.
ii. It is obvious that the Y6.54000/6.50000 that has been a strong Supply zone for close to 3 months was finally hijacked by buyers in March 2021 with a successful Breakout.
iii. Following the Breakout, the price found a niche around Y6.48000 which appeared to be a new Demand zone for Bullish expectation.
iv. Taking a long term perspective view on the weekly chart; I see price action transition into a Corrective phase after the Impulsive Bearish move that began mid-last year in the coming week(s) hence my Bullish bias.
v. With my Key level marked @ Y6.49000, I shall be looking forward to buying opportunity above this level to join the potential rally.
Trading plan: BUY confirmation with a minimum potential profit of 1,800 pips.
Risk/Reward : 1:6
Potential Duration: 15 to 25days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Will it bounce or dump? tell me your opinion thank youmy bet is that it wont go further low, it will bounce off the decade or so trend line, or at least is what is convenient for both of the economies. us depends on chineese exports and china needs to sell.
won't open any trade at the moment.
will observe the developement.
if you have any political macroeconomical suggestions please comment below, thank you