possible long term usd/yuan ideajust posting to save for myself later, not a big currencies trader. Uby bmrm98Published 0
USDCNHHELLO GUYS THIS MY IDEA 💡ABOUT is nice to see strong volume area.... Where is lot of contract accumulated.. I thing that the Seller from this area will be defend this SHORT position.. and when the price come back to this area, strong SELLER will be push down the market again.. DOWNTREND + Support from the past + Strong volume area is my mainly reason for this short trade.. IF you like my work please like share and follow thanks TURTLE TRADER 🐢Shortby rebenga93Published 0
WAIT FOR BREAKOUTIn the loving memory of my child muffin i present your this analysis ... i hope it would help you to take decision ... ask me any thing in the comment section ... Uby NINJA_MUFFINPublished 1
USD/CNH: Bullish pennant pattern formed – Yuan to fall to 7.20?The US dollar-Chinese yuan pair ( USD/CNH ) has been trading on a bullish pennant pattern since April of this year, and is currently testing the critical 7.00 threshold, which corresponds to the close of July 2020 and 78.6% Fibonacci retracement level (2022 lows to May 2020 highs). Following the PBoC's decision to reduce Chinese domestic banks' forex reserve requirement ratio by 200 basis points to 6% beginning September 15, the 7.00 mark level may face some selling pressure from the bears. This policy action could in fact free up dollars to be converted into Chinese yuan to sustain the economic slowdown caused by the reinstatement of Covid-19 restrictions. The USD/CNH pullback may find support at 6.89 (1 September lows) or 6.85 (61.8% Fibonacci level). But if 7.00 is broken, then 7.20 might be next. This target (7.20) represents the height of the flagpole when added to the breakout point and will complete the Fibonacci retracement to the highs of May 2020. Idea written by Piero Cingari, forex and commodity analyst at Capital.com by CapitalcomPublished 2
USDCNH Trades To Triangle Breakout Targets, What Next?In this update we review the recent price action in the USDCNH and identify the next high probability trading opportunity and price objectives to targetU01:27by TickmillPublished 3
USDCNH Target Price 6.93256USDCNH currency market is bullish. Enter at the close of candlestick.ULongby TradeLive-Published 1
THE HOLY GRAIL 50K PIP50 pips this market went since we forecasted the move. Expect another 50k more as a measured move right up to the double tops liquidity which support the bearish structure of the chart. We’ll be waiting to catch that move n put it away Let’s see what happens %)Shortby Donajor8Published 111
The offshore RMB may be difficult to break 7The offshore RMB may continue to depreciate, but the extent is limited, and it may be difficult to break 7. Under the expectation of the appreciation of the US dollar, non-US currencies are generally weak against the US dollar, and the offshore RMB has to depreciate. RMB to remain generally "stable and volatile" in past 10 years. The intention of the Chinese central bank to lead the easing of the domestic economic environment is apparent. China's positive foreign trade figures were favorable to the appreciation of the offshore RMB. The market has now anticipated and priced in Powell's likely hawkish bias at the Jackson Hole Economic Symposium this weekend (25-27 August) from 11 August to 23 August. As a result, the USD index has risen by 4.5% (104.30 - 109.00). In the medium to long term, the author believes that it is unlikely that the offshore RMB will depreciate significantly. The CNH/USD will continue to depreciate for the rest of the year, driven by the rising USD, but it may be more challenging to break 7.0000. CNH/USD may be expected to depreciate with a high probability to the max range of 6.900- 6.9500 in the rest of the year, then it is more likely to resume appreciation to around 6.5750.by SandyWangPublished 0
USDCNH breakoutPrice broke up this triangle📐 and I think there is chance for run to 6.92 and even higher. Setting BUY LIMIT order to previous range high to catch🎣 the pullback. Resistances along the way ENTRY : local high @ 6.735 STOPLOSS (SL) : local low @ 6.668 TARGET (TP) : height of the triangle projected from midpoint of the local range (BUY LIMIT - STOPLOSS) @ 6.92 REWARD RISK RATIO (RRR) : 2.8 INVALIDATION : when SL level hit Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.Longby bizmarkUpdated 7715
US Dollar Ready to Resume Rise Against the Chinese Yuan?Following a few months of consolidation, the US Dollar seems to be making some upside progress against the Chinese Yuan. Fundamentally speaking, a hawkish Federal Reserve and dovish People's Bank of China offer upside potential for USD/CNH. This also follows measures from China's government (about 1 trillion Yuan) to bolster the economy. In response, USD/CNH is trying to confirm a breakout above the May high (6.8376). Key resistance seems to be the midpoint of the Fibonacci extension (6.8833). Further gains place the focus on the 61.8% and 78.6% levels at 6.9460 and 7.0353 respectively. Keep a close eye on the 20- and 50-day Simple Moving Averages (SMAs). These could reinstate the upside focus in the event of a turn lower. FX_IDC:USDCNHLongby QM_DubrovskyPublished 4
USDCNH Jan 2022 to 14 Aug 2022USDCNH Jan 2022 to 14 Aug 2022 USD/CNH refreshed the highest level since 2022 yesterday, with short-term support focusing on the May high of 6.8375. After the RSI failed to break through 70 again, it is showing signs of divergence (the high point in May and the high point of the year refreshed yesterday), suggesting that the exchange rate may turn down in the short term, and the key support below is the 20-day SMA moving average. by SandyWangPublished 0
JICPT| USDCNH is likely to test 7.01Hello everyone. USDCNH has been moving sideways for the past 3 months until the weaker-than-expected July economic data released this week. In addition, the unexpected rate cut to MLF gave a boost to the pair. The offshore Chinese currency fell sharply against the dollar by over 700 bps. Now, it pulled back from the previous high around 6.83. Technically, the all my moving averages are heading to the upside, with a quick retest of my long key MA. That may indicate that previous high is likely to be penetrated. By the measure move method, the upper range after the breakout is 7.01. The weaker Renminbi can help China's export, offsetting the impact of sluggish domestic demand. Companies and consumers are reluctant to take on more debt amid fresh Covid flare-ups. What do you think? Give me a like if you're with me. ULongby JICPTUpdated 4
USDCNH - Dollar is kingFollowing my post on HSI, my focus is also on USDCNH pair. My take is that it is in an upward channel and given the differing monetary policies by the Fed and PBoC, my take is that USD will continue to strengthen. However, we should pay more attention to the Jackson Hole symposium for more insights on the Fed's future rate policies as well as the US labour market which seems to be still red hot. On the technical front, if the dollar crosses 6.842, there is likely to be greater upside. Else if it closes well below 6.83, then likely to continue the downward trend to the next retracement level. Based on stoch, it appears to be a buying signal but the volume is still weak. by TraderXRPublished 0
THE HOLY GRAIL-SIGNAL Short the reversal structure if made at .7 structure flavors bears more Shortby Donajor8Published 0
Typical Long USDCNH breakout playUSD tightening policy vs CNH easing policy Inflation is like an illness, and medicine needs to be tailored to the specific problem. Both countries policies are deployed to aid individual domestic economy. And right now, the Fed has no control over the main driver of rising prices, however data suggest that domestic economy allows for Fed to press on tightening policies while closely monitoring signs of industrial recession. On the other hand, China is behind inflation and GDP target, and PBOC has reiterate on easing monetary policies to focus on lowering cost of covid controls while stimulating effective demands. We expect to see more fiscal aid coming from Chinese government in second half 2022 to support economic growth. Upcoming U.S PMI and CPI data will give more colors to dollar strength, with stronger data pointing to dollar strengthening together with more liquidity assistance by PBOC, we are likely to see short term USDCNH strengthening towards 6.9x over the next few months; in line with forward premium rate follow by USDCNH retracement in late 2022 due to peak inflation and China domestic recovery leading the economy. We expect the release of China’s fiscal policy to be the trigger for this possible upcoming breakout of USDCNH, with more injected liquidity into the system that weakens RMB. While dollar side movement had been somewhat priced for 75bps next Fed meeting together with projected Fed Dot Plot, the remaining moving factor ceteris paribus shall fall on RMB side of story.ULongby ChuaChangYiUpdated 0
USDCNHhigher lows in trend channel, PA indicates near term bottom, long activeLongby BanksterUpdated 0
Squeeze on USD v Chinese JuanThis triangle pattern on the USD v Chinese Juan could mean a significant breakout price move is imminent. I would speculate that the USD is more likely to breakout higher relative to the Juan simply due to poor financial conditions in China with the housing market there in trouble.Uby MrAndroidPublished 0
USD/CNH should drift higher to USD/CNH 7.0strong USDollar should drift higher 3.6% to test and already seen exchange rate level USD/CNHLongby UnknownUnicorn27566687Published 1
A lovely bat pattern for USD/CNHThis pattern is very harmonic with excellent ratios. It is time for a short order.Shortby sakurakouji_ayaPublished 0
USDCNH VERTICAL LEAPFundamental Insight: - PBOC Easing Mode - Zero covid lockdown and Increasing new strain case - Housing market problems - Forced regulation on big techs - King dolla is kingULongby TradingCocktailPublished 7
UNPOPULAR OPINION USDCNHThings you should not bet against and one major of them is commodity currencies. I have done research based on sentiments and everyone is looking for a crisis out of china to be break its market, especially in the housing market. This is my personal view based on a group of commodity currencies a reversal in all of them in almost certain. Will this push for a second wave of inflation "YES" not likely to be felt a few year is monetary policies reverse which I see them doing, but if they become more aggressive then risk of uncertainty is extremely high also Risk of emerging markets could be far worse that we imagine. Long commodities and commodity currencies. UShortby Beclinks_CapitalPublished 0
USDCNH BULLISH FLAGInteresting possible bullish set up on USDCNH ahead of today US annual June CPI at 14:30 GMT+2 Buy entries should be triggered in case of hourly session close above the downtrend line of yesterday’s high and confirm the break of the bullish flag continuation pattern, with stop loss below today low at 6.7220 and target around 6.7744, giving an overall R/R of 2. Longby vf_investmentPublished 2
USD/CHN gets ready for another runA continuation congestion is in the late stages for the Dollar to scream another upleg against the Offshore YuanULongby PeterLBrandtPublished 2226