USDCNH trade ideas
Chinese Yuan Bullish Performance About To Halt Against DollarsChinese Yuan has been performing very well against the USD, but that bullish run is about to be halted! USDCNH has pullback to the monthly ascending trendline and also on a good support level. Expecting price rejections at this level for another rally to the north.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
USDCNH - My OpinionPositive with the climb of USDCNH, because of DXY and of course really overbought Chinese yuan. Looking for 6 - 7% easily in half a year, with leverage it should be decent and safe.
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!
USDCHN Bounces Off SupportI am going long after seeing bullish activity on weekly support. I am targeting previous resistance.
CNH possible bounce off support and bear channelI can see a possible setup building here in the next couple of days.
The bottom of the channel down coincides with a supply and demand zone right now, so there's two reasons to keep a good eye on the pair at the start of next week.
I will be watching the two other indicators as well.
For the Quadratics we need the Difference line (white) to pop up above the centre line, and for the ATR to start increasing at the same time.
For the Heatmap, we'd like to see the OBV (again white) line stay oversold then start to rally, and the heatmap to start going a little bit green at the same time.
Getting ALL these in line would be very propitious, so I'd probably accept just one of the lower indicators, and start checking lower timeframes for entry.
Credit to @Mayfair_Ventures for all four indicators.
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
Time to long USDCNHSee chart
After almost a year of downtrend, the trend is now reversing again and this can be exciting for the 2nd of this year!
USDCHN ForecastUSDCHN -H3, Down.
-It could pulse up first...
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Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
USDCNH - Potential Reversal.Impulse was affective last week, retracement ready and finding entry reason around the bottom of the channel.
Preparing to Ride Wave x of USDCHNHello fellow traders,
Looks like this pair is about to complete W-5 of W-C in A-B-C pattern.
Prepare ready to trade supposed W-X of larger A-B-C pattern.
All the best!
Importance of Multi-Timeframe Analysis: USDCNH Long-term ChannelThe importance of multi-time frame analysis cannot be over-emphasized. No matter the timeframe you are trading, it is important to always come out and see the bigger picture. In this example, USDCNH has been in a Bullish Ascending Channel since 2014
We can see that whenever price hit the trendline support, Institutional Buyers and Investors came in to buy in large Volumes. The key rule in all Financial Markets is to Buy Low and Sell High.
For this pair, USD/CNH, we also observe one important factor, Time!! Timing is a very important factor in all Human endeavor. Notice that for all three times, anytime price came to the trendline, it was almost always in January.
Why January? I don't really know. But it looks like when the trendline is close, the buyers liked to start their buying program at the beginning of the year.
If you are trader and you were selling in a lower timeframe like the 1-Hour chart during those three times, you may not know that you are close to a very big demand area, until the price starts shooting up.
There is no Coincidence in the Markets. All orders are planned!! whether buy or sell. the key is to look at the entire forest and not only the trees.
Last lesson: Trendlines and Channels may look simple but they are very powerful tools. They are a very great way to analyze markets. Never underestimate them.
Thanks folks and have a great Trading Day!!
USDCNH - SHORT on H4 TimeFrameFX:USDCNH :
Break and Retest (or ICI) Strategy to the downside :
Entry at retest of support bar or resistance around ~6.55712 and target 0.2782 of Fib Retracement (~ 6.52837).
Set SL to previous swing high. Move SL to breakeven once price breaks the next support (~ 6.54360)
Close half position at 6.53855 (next major support)
Chinese letting the USD recover while they conquer the universeIf you like Elliott waves this pair is doing a wave 4, looking at the chart more than just ultra zoomed in we can see those appear previously:
On 1 hour the price is going ABC and ending with a strong red candle like some "capitulation" I think it can drop quickly a last time then reverse.
If the price on this 1 hour makes a double bottom or V shape bounce is not important and I don't look too much into it buyers are sellers are fighting on the daily chart,
this has nothing to do with day gambling as retail does not trade this pair AUDNZD still has 40 times more myfxbook positions than USDCNH, AUDNZD more relevant to the world economy according to retail :)
It just hits the eyes, clearly this is not part of the big 2020 downtrend where China was rearing a dumper truck full of usd and unloading.
What China FX reserves are made of is classified info, all I know is they are human and they are all the same, they are done selling for now (not contractual info), I'm sure they have some usd left at least a trillion, not in their best interest for the USD to go to zero (yet).
I don't know who the dumbasses buying the USD are, well there is me 🙂, but anyway there are always buyers;
Since this is now clear to everyone it is not just a little pullback in a downtrend it could continue for a little while.
When it went down it did following a clear trendline all the way down, now it is following a trendline on the way up.
A bit too simple... The chinese all too communist to make money in the exchange markets?
But Karl Marx loved the markets (probably due to a "I don't want to work if only I could make a lot of money on a luck streak" and gambler mentality).
Plus chinese government letting everyone know what they are doing in advance haha.
Maybe it's not "inefficient" as US regulators love to say, it's simply that in the absence of retail gamblers no one is stupid enough to go against the painfully obvious trend when the government announces what they are doing? How is sentence even a thing, how are these people so bad? 😆
Nah they're a tiny minority in FX they can't possibly have a significant impact, just bankers hate risks and love simple trendlines, and FX doesn't have that many speculators trying to extract money since 2008-2013. FX undervalued by now.
The USA are not part of the OBOR/BRI project. China not investing long term into the US, their future commercial mega-empire does not need them doesn't mean they don't need them NOW.
Idk not much more to say, the price here is at the risk point it could reverse from here so best cheapest place to take a buy, close to getting invalidated, maximum financial opportunity.
USDCNHUS Dollar against offshore Chinese Renminbi. The Renminbi is also often referred to as the Yuan in its unit designation and uses the letters CNY when trading inside of China. The Yuan used to be pegged to the US Dollar but is now allowed to trade a limited distance against the reserve currency on a daily basis. China is the world's largest exporter and remains the second largest economy, behind the United States. China has used its control over its exchange rate to help ward off global financial crisis and maintain its dominant trade position - an effort that has drawn accusations that it is manipulating its currency.
