USDCHN SHORTwaiting for RTO!
there will be 1 more possibility to enter fro h1 but need to see how we close next our
USDCNH trade ideas
A stronger yuan could spell trouble for USD/JPYA downtrend has formed on USD/CNH since it failed to retest the 2022 high in September. Since then, a lower high, aggressive selloff and a bearish continuation pattern (rising wedge) has formed on the daily chart. The rising wedge projects a downside target towards the cycle lows ~7.1.
If the yuan continues to depreciated (lower USD/CNH), it could prompt other Asian currencies such as the Japanese yen to also depreciate, in order to remain competitive with trade. And as USD/JPY is approaching 152 - a level it failed to test due to BOJ intervention (and subsequent concerns of another intervention) - there's a reasonable chance that USD/JPY may struggle to break above 152.
For now, USD/CNH looks ripe for a move lower given the double top / rising wedge around the 50% retracement level, and bearish momentum picking up. Bears could have a stop above the cycle highs and target the lows around 7.1. But if the Fed begin to drop dovish clues further out, it could also break below 7.1 and head for 7.0.
CNY! Happy Chinese New Year! PEPPERSTONE:USDCNH
Oh, I cannot contain my excitement for this year's Chinese New Year of "Dragon"! 🐉 I mean, who wouldn't be absolutely thrilled to experience the exact same joyous celebrations as last year? And guess what? The depreciation trend of CNY? Oh, it's not going to miraculously reverse itself, not a chance! It's almost as if the Chinese government's awe-inspiring market manipulation is gracefully reaching its magnificent climax. And of course, we can all look forward to those enchanting SWAP contracts being wrapped up right on schedule after Chinese New Year. It has become such a charmingly predictable tradition, hasn't it? Like clockwork, year after year. 🙃
Now, if I gaze into my mystical crystal ball, I foresee a breathtaking future for the Chinese New Year. In the short term, hold onto your hats as the price pirouettes within the thrilling range of 7.21 and 7.17. 🧐 But wait, there's more! In the mid term, it will be up to 7.36, the peak in last year. Long term, prepare yourselves for a heart-stopping ascent to the dizzying heights of 7.78 to 7.81.🧐 Of course, we couldn't possibly fathom it going any higher than that. Why, you ask? Well, it's an absolute enigma why the mother country would ever contemplate lowering the rate of the son, especially when the HKDUSD stands at a jaw-dropping 7.8. It's like an intricate puzzle wrapped in a perplexing riddle, don't you think? 🤭
Yes, the macroeconomic world is teetering on the edge of its seat, eagerly awaiting the news that will come to the rescue of the oh-so-precious property market! I mean, what else could possibly save the day? Whispers and rumors abound about lower interest rates, an astonishing metamorphosis of the 5% public housing policies into a mind-boggling 30%, and let's not forget the grand abolishment of Xi's policy, "house is for living but not for making money". 🤭 Oh, but that's not all! Hold onto your hats as only newly planned developments are bestowed the privilege of borrowing money. Isn't it just splendid? But wait, there's more excitement brewing! Brace yourselves as the government magnanimously increases their securing guarantee for property lending. 🍒 Can you even begin to fathom the magnitude of this? We're talking trillions upon trillions of USD equivalent CNY being injected into the market. It's like a magical elixir that will undoubtedly solve all the property market woes. What could possibly go wrong under Xi's visionary policy? 😛
Ladies and gentlemen, get ready for a spectacular show this year. It's going to be one for the books! What are we waiting for? Wish all luck with you.
HAPPY LUNAR NEW YEAR! 😛
UsdchnWith stability above kumo cloud and yellow level . The up treand is starting. Trarget is tit of white flash
Trending up20 day range is bulish. Price bounces off the 50%. Price action the smash day bar bullish sentiment.
Usd is king.
UAD NH(my favorite. Outlook)Waiting for price to respect our hourly demand and push us further into the premium zone
$USDCNH: Bottom or mean reversion?Short term mean reversion or reversal of the down trend?
Time will tell, but for now this is a safe long.
Best of luck!
Cheers,
Ivan Labrie.
USDCNH BUY Good morning.
We have reached the entry point for USDCHN. We invested LONG, as in the graph.
Long in USDCNHI have initiated a long position on the USDCNH currency pair based on the price touching a demand zone.
After carefully analyzing the market, I have identified a significant demand zone where buyers have shown strong interest in the USDCNH pair. This zone indicates a potential reversal in price direction and presents a favorable opportunity for a long trade.
It is important to note that trading based on demand and supply zones requires a thorough understanding of market dynamics and price action analysis. I have meticulously studied the price movement and identified this demand zone as a strategic entry point for a long position.
To manage risk effectively, I have implemented appropriate risk management strategies, including setting stop-loss levels to protect my capital in case of any unexpected market movements.
By taking advantage of this demand zone, I anticipate potential gains as the USDCNH pair potentially moves towards higher price levels. I will closely monitor the market and make necessary adjustments to optimize profitability and minimize risk throughout the duration of this long trade.
USDCNH: One More Bullish Confirmation↪️The USDCHN pair rebounded from an important level of support on a 4H chart last week.
Analyzing the 4-hour timeframe, I observed another indication of a potential bullish movement. In this instance, the pair surpassed and successfully closed above a resistance line formed by a falling wedge pattern, as well as a smaller horizontal resistance level, now support.
This suggests that the market could potentially continue to rise, with target levels set at 7.1777 and 7.2513...Trade safely 👍✅
USD/CNH ↘️ Short Trade setup ↘️Hello Everyone 🙋🏽♂️
descending channel pattern
💲 Entry Point : 7.14511
🟢 TP 7.09574 🔴 SL 7.16782
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $.
Don't forget to hit the like bottom and write a comment to support us.
Follow us for more 🙋🏻♂️
Best Regard / EMA Trading .
Disclaimer:
----------------
It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
USD/CNHAll three EMA of 20, 50, 200 are Bearish as well as price action that shows as of this moment, it's doing consolidation / correction at the lower time frame.
Monthly trend long for USDBecause dollar is undervalued.
China tried her best to make dollar cheap where two opportunities arise.
1. China to buy dollar cheap and keep a lot and sell upon gain
2. Other countries to buy dollar for safe reason.
3. China may try to raly yuan and other countries to use yuan, but there is no logic to do it.
4. It's either you are for or against USD. And usd is king. Don't bet against the dollar in the long run
USDCNH: Expect Further Decline USDCNH continues on its downtrend after being rejected off previous dynamic support level around 7.16 zone that now serves as resistance.
Potential short term rebound to 7.125 (R1) that would be a good entry for short position with a downside target level around 7.062 (S1).
USD/CNHAnother good looking play would be the Chinese Yuan. Strictly off of the chart, this would be a good time to look at acquiring the currency for a longer term currency swap.
USD/CNHGreat Bearish set up, so far.
0- Monthly shows Bearish Reversing
1- EMA 200 on Weekly shows: Bullish
2- Chart Pattern on Weekly chart shows: Bearish Reversal
3- Stochastic on Weekly chart shows: Oversold
4- EMA, 20, 50, 200 on Daily shows: all Bearish
5- Stochastic on Daily shows: Oversold
USDCNH. Rising wedge.USDCNH has formed Rising wedge. Although its not for trade but just a practice to draw a pattern. TP's have been identified
In the case of buing yuanChina has been buying it's currencies while it may in the short run increase it's value against dollar, the underlying issue with yuan is the fundamentals of chinese commerce has yet to change.
Property investment still not resolved in the case where it is expensive but there is no demand for the number of supply.
Failure to pay debts.
Aggressive actions against her neighbors by invading the terrirtorial watters of other countries.
Using debt to control other neighbors.
Dollar is king.
Yuan challenging the dollar is still a pipe dream.
USDCNH Buying and selling at Support & ResistanceUSDCNH Buying and selling at Support & Resistance because it looks like sideways
$USDCNH: Monthly trend reversing, interesting pattern at playXi was seen toning down his foreign policy hawkishness, perhaps between AI and this we manage to fight back against the potentially inflationary dynamics of #reshoring and #protectionism in America.
If so, #globalization remains in place, which was the higher probability outcome, a scare but the status quo remains when it comes to VERY large structures or systems everyone benefits from.
After all, Xi isn't Putin, he seems more level headed and unlikely to commit foreign relations suicide just because (cough Ukraine invasion cough).
#forextrading
The time has come to buy the yuan !Read latest news here
I am monitoring the daily chart for a more confirmed bearish signal before establishing a SHORT position. The risk/reward ratio looks very attractive from this price point as the margin to go up higher is not a lot.
