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OFFSHORE CHINESE YUAN / U.S. DOLLAR

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CNHUSD trade ideas

Is the Chinese Yuan Readying to Reverse?The Chinese Yuan spent most of 2021 appreciating against the US Dollar despite a broadly upbeat year for the latter. Now, fundamentals may be paving the way for its turnaround amid the risk of slowing demand for Chinese exports - www.dailyfx.com USD/CNH recently turned higher following a more hawkish Federal Reserve, reinforcing the key 6.3526 - 6.3238 support zone. Meanwhile, the PBOC is looking comparatively dovish. Positive RSI divergence shows that downside momentum is fading, which can at times precede a turn higher. Immediate resistance appears to be the 61.8% Fibonacci extension at 6.3833 before the midpoint at 6.4110. Down the road, the pair would have to face falling resistance from March which could reinstate the broader downside focus. On the other hand, taking out the key support zone exposes the 100% extension at 6.2936.
by QM_Dubrovsky
1
A Big Turning Point for USDCNHin the past few years, USDCNH usually found a turning point in the 1st Q, especially around the Chinese New Year. Today there is a big rally in USDCNH. Reuters report, FX conversion before the week-long Lunar New Year holiday, which starts on Jan. 31, has been traditionally heavier as exporters need to settle their dollar receipts for goods payments and employee bonuses, but markets widely expect some weakness could kick in soon. www.reuters.com Fed signal a rate hike in March and PBoC is going to keep monetary policy neutral to slightly loose, this will narrow the rate spread of these two currencies and favor more dollar strengthening. China's GDP will still have pressure this year as the Q4 GDP slowed to 4% in Q4 2021. The 20th National Congress of the Communist Party of China will be held in the second half of this year likely in Oct or Nov, the Chinese government will be busy with political issues. Will, there be any further pressure on the economy, we need to wait and see. a surge in USDCNH on 27 Jan 2022, should show a bottom of this pairs of currency and head for 6.5-6.65 in coming months.
Long
by bruceyam
What 3 Events Will Traders Be Watching This Week? 17 Jan – 21 JaWhat 3 Events Will Traders Be Watching This Week? 17 Jan – 21 Jan, 2022 Monday, January 17: YoY China Retail Sales Dec Year over year Retail Sales in China is predicted to slow in December 2021’s reading from 3.9% to 3.7%. The Offshore Yuan has eyed a sub-6.34000 value against the USD since December 2021 but hasn’t held the nerve to stay this low for anything more than a brief intraday flirtation. The USDCNH is currently on the precipice of this level, trading at 6.35283 and could finally close sub-6.34000 in a daily time frame if an unexpectedly strong December Retail Sales report helps dispel rumblings of a weakening Chinese economy. Tuesday, January 18: BoJ’s Press Conference The Bank of Japan’s (BoJ) Governor Haruhiko Kuroda will speak on Tuesday Evening. No significant changes to the Bank’s ultra-loose monetary policy are expected, but traders will watch for signals concerning future rate hike decisions. The market may have already begun anticipating such, with Japanese Yields hitting a six-year high last week, and with it, the Japanese Yen experienced its best weekly gain in six months. Wednesday, January 19 to Friday, January 21: Wednesday: YoY UK Inflation Rate Dec Thursday: Canadian YoY Inflation Rate DEC Friday: Japanese YoY Inflation Rate DEC The market will be reacting to three important inflation data reports In quick succession for the last three days of the week. A 0.1 percentage point increase is expected for all three reports. Perhaps the most important to watch will be Friday’s report from Japan as it can be considered in tandem with the BoJ Monetary Policy Minutes report, which is released twenty minutes after the inflation report.
by BlackBull_Markets
USDCNH H4 Potential Buy TradeFX:USDCNH Hello traders, its AZFXedge here presenting a Trade Plan on USDCNH Market structure is Bearish since Sept 2019 Apparently, market appears to develop an Ending Diagonal Pattern on Weekly thus providing early signals of weaning momentum to the downside. Overall market stalls at support zone at 88.6% retracement of previous Bullish move. At this level, market can easily continue with Bearish move, but as Higher Highs and Higher Lows starts to form on H4 (and price appears to trade in Bullish Flag), there is a high probability for the market to visit 6.46000 area before continuing Bearish! #Trade Management is Key
Long
by edgeAZFX
Bulls ? My Lesson learnt !!Looks like the bulls may finally take price higher where we are expecting a short discount at our zone mentions months ago Here we see a wedge bottom with a shake out for a nice mid ride up north let's see This market is very bearish so it took months for this formation no doubt the bears want a cheaper price n I don't think this market will see higher highs maybr not in a long time n I wish I had sold it back then I'd sept on it big time n this market I'll always regret so I trynot to sleep on others Cus this market offered an expectional short hold a lifetime trade smh
by Donajor8