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OFFSHORE CHINESE YUAN / U.S. DOLLAR

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CNHUSD trade ideas

Trade idea USDCNH longUSDCNH follows a medium-term uptrend. On 27/05/2020 the pair reached its previous high at 7.20 and got rejected. In the last two weeks we saw a decline back to the SMA200 at 7.0450 where we today saw a rebound in an environment of risk aversion and dollar strength. This situation gives a long engagements a very good return/risk ratio. Trade parameters are as follows: - entry at current level of 7.08 - stop loss at 7.01 (conservative approach) or below 7.04 (aggressive approach) - take profit at 7.195 for 67% of the position
Long
by DrChristophCanne
USDCNH | WEEKLY FORECASTThe Yuan has been on the rise since the beginning of June 2020 and it does not appear that there will be a "slow-down" in the following week as the Greenback continues to depreciate. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Descending Triangle | Support & Resistance Observation: i. A structure depicted by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows confirms our Descending Triangle . ii. This pattern clearly explains that the Demand for the USD is weakening; iii . As we anticipate price to break below our lower support @ 7.05000 (a psychological level) indicating downside momentum will become stronger in the following week(s). iii . In as much that we shall be wary of false Breakdowns at the lower support, we shall eye a further Breakdown of Daily chart Trendline with engulfing candles as comfort . iv. Please note that as the price keeps putting pressure on the 1st Key level throughout last week, a Breakdown of this level might be a zone to initiate sell order for quick gains. Trading plan: SELL confirmation with a minimum potential profit of 450 pips. Risk/Reward: 1:2.5 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. 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 NFTI takes 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. NFT&I does 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.
Short
by darcsherry
The US dollar was seen sliding against the Chinese yuanEarlier this week, the US dollar was seen sliding against the Chinese yuan thanks to the upbeat results from mainland China’s economy. Unfortunately for the Chinese yuan, it wasn’t able to hold on to its gains in the sessions thanks to the recent news about rate cuts from the People’s Bank of China. The pair is now projected to rally towards resistance level in the coming sessions, a feat that should bolster the 50-day moving average against the 200-day moving average. Earlier this week, the Chinese manufacturing PMI from June showed a gradual improvement from 50.6% to about 50.9%, topping projections of about 5.4%. Aside from that, the Caixin manufacturing PMI for June also showed an increase in the private manufacturing sector from 50.7% to about 51.2%. the main source of the yuan’s weakness is the decision of the PBOC to set its midpoint rate earlier today, giving room for bullish investors to thrive in the trading sessions.
Long
by Financebroker
USD CNH - Escalation of Tensions !Relationships between the U.S and China have been deteriorating at a really fast pace since the begging of the Trade War between both countries back in 2018, where hundreds of billions of dollars in taxes over nationals goods, were exchanged. Despite the escalation of tensions, Trump's primary goal was to try to please the agricultural sector, since the farmer's states integrate a meaningful part of its electorate, so aiming re-election the promise of China in boosting its purchases of U.S agricultural goods served Trump needs. However, the disastrous response of Trump to the COVID-19 outbreak in the U.S and other domestic crises has put its chances of re-election in jeopardy. With almost 3 million cases confirmed and more than 130,000 American lives ended, plus the massive riots across the country due to the murder of George Floyd by cops and the economic crisis that is hitting the country with an unemployment rate of 13.3%. A context that has been causing the growth of the dissatisfaction of the population with the state of the country, such discontentment is already appearing on the recent polls that put the Democrat candidate Joe Biden in a 10 points lead over Trump. With the risk of losing re-election, Trump might use the oldest trick of the book of governors that want to unify the country and take the focus off its own failures, create a common enemy. In this case, China its the perfect fit, since the country was the first to report the new Coronavirus and has been moving to curb Hong Kong autonomy through the new security law. So Trump can target China first by blaming the country over the pandemic, and retaliating in defense of Hong Kong democracy, placing then meaningful sanctions and increasing the friction between both countries. Looking at the monthly chart, the US Dollar Chinese Yuan Offshore is in a very intrigue spot now since the price is moving accordingly to the Elliott Wave rules so far, with a Wave 3 in process of formation. After the price confirmed a Wave 2 due to the retracement of near 76.4% of Wave 1, the CNH managed to surpass the top of Wave 1 confirming a possible Wave 3 that has the following targets based on the rules that determine the extension of this wave: Targets: 1) 7.80869 - 161.8% of wave 1-2 2) 8.18008 - 200% of wave 1-2 3) 8.78091 - 261.8% of wave 1-2 4) 9.38174 - 323.6% of wave 1-2 This context shows us the possibilities of this new large impulse movement of the USD CNH been the reflection of the rasing of tensions between China and the U.S, as China will fight to increase the yuan relevance on the market as the U.S will try to undermine China influence on the global economy. Thanks for reading, please feel free to share your comments and perspectives below, I'm still grinding my way to improve my analysis, so all feedback is welcome. "A crisis is an opportunity riding the dangerous wind" - Chinese Proverb
Long
by Ikaro_Soares
The Chinese yuan notably strengthened against other currenciesLast week, the Chinese yuan notably strengthened against other major currencies in the forex market, especially against the beloved US dollar. However, the fluctuations in the risk sentiment in the global market is bound to boost the safe-haven appeal of the US dollar. The agonizingly prolonged tension between the United States and mainland China should help propel the US dollar to the Chinese yuan exchange rate’s prices towards their resistance level. Just recently, it was reported that Robert O/Brien, US President Trump’s national security adviser, compared Chinese President Xi Jinping to Josef Stalin, a known Soviet Dictator. The comment escalated the concerns for the trade deal between the two economic giants. The rather aggressive speech from O’Brien reportedly lambasted the Chinese leader. Trump’s national security adviser then added that the Chinese government wants to remake the world based on its image.
Long
by Financebroker
UPDATE!! USDCNH near to a melting point? 🦐After our last call on this pair the market seem to carry on the down trend and now found a support area on the upper trend line. IF the market will break the trend line and consequently break the support structure at the resets we can look for a nice short order according to our strategy. For the one who enter in the trade at the previous signal they can keep their position and go risk free on the trade. ––––– Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Short
by InkyGrip