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US Dollar/Chinese Yuan

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USDCNH trade ideas

Divergence here, divergence thereFundamentals & Sentiment USD: The sentiment has been bullish for a while as US CPI remains sticky. As the dollar gained strength. However, it became overpopulated with buyers, as evident from CFTC reports. So, it should take some trigger for those buyers to start covering their longs - a good potential for dollar downside. The CESI differential for USDCNH has been forming a decent divergence since February. CNH: The economic data came out pretty mixed this morning. It seems the market focused more on slacking Industrial Production YoY and Retail Sales YoY as ChinaA50 closed the session with a sharp recovery, viewing the miss in data as another reason for stimulus from PBoC. Technical & Other - According to seasonals DXY should stay flat for the next 3 weeks Setup: S(RTF) Setup timeframe: 4h Trigger: 15m Medium-term: Sideways Long-term: Uptrend Min target: range boundary Risk: 0.14% (0.5R<) Entry: Market
Short
by Cherry94
5
Dollar-yuan could continue up but breakout questionableUSDCNH covered about half of last Friday’s spike on Monday and has continued to gain since. Volatility increased significantly since the end of last week, but it’s still unclear whether it’ll continue at similar levels or perhaps decline somewhat over the next few sessions. Either way, the uptrend is likely to remain active unless there’s a significant intervention by the PBoC or sentiment shifts notably. The price is above all of the moving averages and in or very close to overbought based on Bollinger Bands and the slow stochastic. ¥7.30 seems to be an obvious medium-term target, being a round number and the area of mid-November 2023’s high. Beyond that, ¥7.35 is the area of the all-time high which probably won’t be broken for some time without a clear fundamental catalyst even if the uptrend continues. There’s no very clear area of static support on this chart. ¥7.20 is a possibility based on the longest tails of last month’s periods, but it’s pretty vague. The 200 SMA might be an important dynamic support in the next few days, though. The focus next week is on Friday’s NFP after Chinese PMIs on Sunday and Monday. This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
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.
Short
by CityIndex
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! 😛
Long
by RedCranePunch
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.
Long
by JuanHernandez
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 👍✅
Long
by linofx1
2
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
Short
by EMA_Trading
2