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US Dollar/Chinese Yuan

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USDCNH trade ideas

USDCNH looking for a retest of structure 🦐USDCNH after the break below a weekly support is consolidating over a daily support. The price is on a long bearish wave and never retraced back. IF the price will break and close above the daily structure, we can set a nice long order according to Plancton's strategy. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. 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 the Plancton0618 strategy will trigger. Leave a comment that is helpful or encouraging. Let's master the markets together
Long
by InkyGrip
2
View on USD/CNH (10/11)Price fails to break below the support level. However, taking a long set up now would be consider a counter trend trade but provides good R:R I am on the bullish side unless price breaks below 6.586 Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. I am not responsible for any liabilities arising from the result of your market involvement or individual trade activity
Long
by imjmesl
Dollar will keep fallingChina is US' 2nd biggest trading partner after EU and watch what is happening with Dollar vs Yuan...dollar running through no volume zone, no liquidity to stop the fall. I marked where is next major support. Turnover between US and EU is not so different as that is with China. List of the largest trading partners of the United States 1 European Union 717,902 2 China 635,364 Sell dollar rallies on USDXXX pairs... Buy XXXUSD rallies...Eurusd is likely to hit 1.22.
Short
by ICFX
USD/CNH REPORT UPDATEWhat i said last week regarding the USD/CHN PAIR... USDCNH drops below 6.6917, down 0.39% intraday. China will not only overcome the coronavirus pandemic but will also aim to become the world's largest economy which could be favouring USDCNH bears. ( China's communist party 2020 GDP to exceed 100 TRILLION YUAN) A clear break of the one week old support line could drag USDCNH prices towards the monthly bottom near 6.6275. Meanwhile a 13 day old resistance line at 6.7325 can probe buyers even if they manage to cross previous support, now resistance around 6.7025. One week later and im very much still bearish on this pair. At the time of writing USDCHN broke below the bear flag that have been forming for a couple days which is where i re-entered the market. Please keep in mind that the U.S elections are tomorrow which will lead to some volatility in the market.
Short
by NapoleonHil
5
USD/CNH REPORT!FX:USDCNH USDCNH drops below 6.6917, down 0.39% intraday. China will not only overcome the coronavirus pandemic but will also aim to become the world's largest economy which could be favouring USDCNH bears. ( China's communist party 2020 GDP to exceed 100 TRILLION YUAN) A clear break of the one week old support line could drag USDCNH prices towards the monthly bottom near 6.6275. Meanwhile a 13 day old resistance line at 6.7325 can probe buyers even if they manage to cross previous support, now resistance around 6.7025. let me know what you guys think....
Short
by NapoleonHil
View on USD/CNH (27/10)Seeing some support coming in. Waiting for price to retrace lower before buying. support - 6.63 Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. I am not responsible for any liabilities arising from the result of your market involvement or individual trade activity
Long
by imjmesl
$USDCNH DRIVES USD WEAKNESS BUT POSSIBLE MEASURED MOVE COMPLETEUSDCNH has been a strong driver of USD weakness and has weakened more that 7% over 5months, straight line. Looking at the technical structure of the double top and breakdown right through the neckline levels, the measured move takes us down to where USDCNH put in a low last week at 6.627. Last week produced a reversal candle (though a weak one) closing around 6.665 just below the key 6.67 and 6.74 handles. There is momentum divergence on the lower lows and completes the measured move. Technically a strong case for a bounce here. PBOC are getting concerned about recent USD weakness which could hurt exports and meeting inflation targets. They will act to achieve their targets and this pivot zone looks like a good reference level on how much they are willing to let the CNY appreciate against the USD. For now, the added uncertainty of US elections and what it means for escalating US-China tensions means market sentiment will lean on the cautious side and see some safe have demand, and some upward consolidation in USDCNH. I don't have a position but keeping an eye on this as I engage in pro-USD trades.
Long
by doejistar