USDCNH HEAD & SHOULDER USDCNH form Head & Shoulder Bearish pattern Nick Line already broken but some up correction wave push price up , now price fulling down to continue bearish direction Volume Profile show all areas could hold price a while Uby MMFXSignalsPublished 2
Tradeagreement? This chart tells a different storyReportedly China and the US have agreed on phase 1 of a trade agreement. China agreed to not further devalue its currency and buy more soy beans from the US. However this agreement has not been signed so far. Looking at the USD/CHN chart it looks like this story will be a different one. CNH has significantly weakened and broken out to the upside a 3 wave pullback ABC should now be in play with the trade talks. However after it looks like as we have formed a valid and significant break to the upside which should resume the direction to the upside once the abc pullback has finished, meaning the CNH will further devalue compared to the Dollar. Uby JonasBenjaminFriedrichPublished 2
USDCNH Short Head and Shoulders + DivergenceAfter the pairs highest notation ever on 3rd of September, the USDCHN has come down a bit and lost momentum. If we look at the RSI we can see a divergence, suggesting that the momentum is lost and it will come down further. It has also formed a very nice Head-and-Shoulders pattern and is about to break the neckline, with a target of 6.95000 - a nice even number coinciding with previous structure and is about the length of Head-to-Neckline.UShortby SejdrUpdated 0
USDCNH HEAD AND SHOULDER PATTERN STILL VALIDWaiting for Breakout & RetestUShortby RiosTradesPublished 3
USD/CNH SELLUS-CHINA partial trade deal news with a possible currency pact, betting well see a return to under the $7 pegShortby Haste_CapitalPublished 2
Long USD/CNH. Flat wave pattern "zig-zag" and a re-test oFlat wave pattern "zig-zag" and a re-test of the broken triangle. Look for a break in the ADX trend to the upside while the price brakes the 0-B to join the train. And, of course, the trade war. ULongby MamalukusPublished 2
USDCHNUpdate daily pattern showing H/S pattern , same thing with RSI indicating divergence After a important news about ( yuan loan ). So im expecting it go short around (6.89596 ) good zone at that level . Comment down below about my strategy:) Uby bumagat102792Published 1
USD/CNH - potential head&shoulders: sign of the end of trade wardon't trade potential formation, be ready for the neck line breakShortby KrzysztofStepienPublished 2
Trending upThe trend is upward and we have corrected it in the week before. Thus I assume a continuing rise this week.ULongby motleifaulUpdated 7
USD CHN S/R 040919Major Fib level acted as good resistance 2 days back. As far back as the given chart goes, the recent highs are in uncharted waters, however, I believe the major Fib level will hold (*but it could be tested again either forming a double top or breaking through. IMHO, TA may favour a double top but current fundamentals may push it through the top to form new highs). Expecting a conservative retrace to the 7.152 zone. Current price broke out of a support zone. The idea is to wait for price to retrace and take a short off a PA on the previous resistance sand TP at the 7.152 zone. SL above previous all time high. R:R is 1:1. 2 other supports (blue levels/zones) has to be broken in the middle for the above to happen. Look out for price rejection of these levels in either direction. Separate trading plans could be made off these blue levels with PA on the LTF. Shortby HungrypippoUpdated 5
USDCNH: Sideways until the end of October?Weekly $USDCNH ended a trend recently, starting a consolidation period, as it has done since it bottomed this year like I anticipated. Upside movement in this pair is likely tied to money flowing outside of China via Hong Kong, which is also linked to money flows towards $BTCUSD to dodge capital controls possibly. The next upswing in this pair hasn't yet confirmed, and it could take a few weeks to occur, which the last Time@Mode trend signal predicts will possibly happen by the end of October. The weekly has formed a new 8 week accumulation level up here (see cyan boxes), so it could flash a buy signal as soon as there is a rapid upside move in this timeframe, from next week onwards... I'll keep an eye on this very critical pair, the current situation in Hong Kong is bound to create some shockwaves in the currency markets, and possibly crypto I think. Let's wait and see...I'm currently short $BTC, waiting for it to bottom, this pair might be a good indicator for that. Cheers, Ivan Labrie.Uby IvanLabrieUpdated 119