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US Dollar/Chinese Yuan

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USDCNH trade ideas

USDCNH: Time To Bounce Up!The price has reached the lowest point for the first half-year. Due to the relationship between the two counties. Recently, the price fluctuates rapidly, however, this situation could be ending. As we can see, the price broke out from the lower band of the Bollinger Bands, which means the price could meet pressure from the Bollinger Bands here. The MACD and RSI do not show any significant changes, however, we still can see some hints here. The blue line of MACD started to go up, and the RSI recovered from the oversold area. Let’s expect the price to go up
by traderscolo-en
The CNH manages to force the USDCNH exchange rate to hold steadyAs evident on the chart, the Chinese yuan manages to force the USDCNH exchange rate to hold steady this Friday’s trading sessions. Despite that, the trading pair’s prices are still widely projected to continue its bullish route and gradually head on over to its resistance level in October. However, it’s worth noting that more experts are now getting convinced that Beijing is ready to let its currency strengthen against the US dollar. This raises speculations as to whether the yuan could actually become one of the biggest currencies in the coming months. On the other hand, the US dollar’s strength was strained by the latest news about Federal Reserve Chair Jerome Powell’s indication to aid or support small business and unemployed people in the United States. According to Powell, the US Congress should prioritize those groups if they were to reallocate the funds away from backstopping the central bank’s own emergency lending programs.
Long
by Financebroker
RidetheMacro| USDCNH Market Commentary 2020.09.22✅ The optimistic numbers have proved that the world’s second largest economy is steadily recovering from the virus slump. Notably, the pair has already been falling for the 6th week in a row, therefore the report has just added tailwinds to the yuan. Moreover, the massive sell-off of the USD pushed the pair to the downside as well 📉. 📌 It’s impossible to ignore the US-China complicated relationship. There was some sign of improvement after the report of the successful phone call between two countries Recent weeks. China and the USA have promised to obey the phase-1 trade agreement, that encouraged investors. Nevertheless, there is still some uncertainty ahead of the election of the US president in November, which may significantly affect Sino-American relations. other side 📍 The Chinese central bank, the PBoC, kept the 1Y Loan Prime Rate at 3.85% and the 5Y Loan Prime Rate at 4.65%. The last time the central bank cut rates was in March.
Short
by Ridethemacro
ridethepig | USDCNH Market Commentary 2020.09.22It is a well known phenomenon that the darling of 2020 has been the Yuan. An important difference operationally for China has allowed the sharp speculators to ride the flows in the endgame of an economic cycle. We must first take a look at the outpost we spotted earlier in the year, the start of sellers activity. There are signs of some short-term dollar strength via risk which means the flows are becoming less simplistic in nature and will start to aggressively shake out the late retailers with awful entries. The continuation from this position is also down to Fed. As US continue to print and finally artificially devalue the dollar we must also track the speed of which inflation returns. Those who believe in 2% inflation making a return will be tracking the supply side chains, rather than the demand side. Less tech advancements, a pullback in globalisation and increased government intervention are bearish for US and Chinese Equities.
Short
by ridethepig
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