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Chineseyuan

Buying Chinese Yuan or shorting the EURCNYThe ERUCNY pair seems to be making a retracement after the run-up that started in June and lasted until September 2018. I will be trading this unleveraged. I am just buying and holding Chinese Yuan without using a broker that lends me money to leverage my bet. Target 1 is at the 50% retracement of the June-September move. Target 2 at the 68% and target 3 at the74% retracement level which also aligns with a support and resistance level. I will sell the Yuan if or as it hits these targets or if the EURCNY pair moves above the Kumo.
Short
by dave25981155
USD/CNH Sell Idea (Potentially Major)This pairing has been unable to break above the $7 dollar resistance - rejected in Dec 16' and again in Oct 18'. I will be looking at a short position after technical and fundamental factors have lined up in favour of this direction. The US Mid-term elections have softened the dollar rally that began just before summer 2018. However, I will not be opening any positions until trend-line A has been broken. Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. If you stick by a smart trading plan you can substantially reduce your exposure to losses.
Long
by StirlingBishop
1
Chinese stocks under severe pressure from global risk => Market turmoil is creating its own negative feedback loops for China driving further tightening financial conditions that will last and have further effects on the economic growth in the region. => It seems unlikely to open the floodgates to a recession so far however further trade tensions between the US and China will add to fragility. => Targets in Chinese stocks remain at 2400 after the technical break of the 76.4% retracement. => Good luck all
SShort
by ridethepig
1
USD/CNH technical strategy for risk off=> What are we tracking here? => This is a very complex environment with major risk off flows from large funds in play last week. => Bears are refusing to capitulate and give the highs defending with everything they have meaning we can use the highs at 6.9586 as a line in the sand for triggering further risk-off flows, especially in the broader EM space. => On the political side we have the potential for the US to label China as a currency manipulator here as early as next week so this noise will provide the ebb and flow. => To the downside we will have to see a daily close below 6.9119 to provide some respite. => GL all those tracking this one or in live trades
by ridethepig
The correction we have been tracking for weeks...=> Here it becomes perfectly acceptable to use CNH as a barometer across the EM currencies... the correction we are eyeballing across the EM spectrum is largely being dictated via China and tariffs. => Linkages between our most recent ideas from USDARS, USDTRY, USDINR and USDRUB cover the broader EM moves as the case for a bearish correction becomes strong. As most of the retail traders who saw the EM collapse late begin loading the boat we see this as a smart opportunity to begin profit taking across the board which naturally opens up opportunity for those on the sell-side in the very very short term. => From a technical perspective you can see the gradient of the slope is starting to slow as we are losing momentum here and a test of 6.7817 is very likely. A close below here will give us the opportunity to start looking for fib targets. => For those who have been following our ideas from the start you will know this is something we have been tracking for some weeks as we believe the recent leg in EM is over for now... => Good luck
by ridethepig
USD/CNY Analysis: Mid-TermTechnical Analysis i) Looks like a Cup and Handle formation for USD/CNY on the weekly chart. Looking to short play the Handle, looking for entries between 6.62 - 6.64 down to 6.48 level. ii) Our most likely scenario (1), will have a pullback from the Handle down to the 6.48 level from their should look for some long positions up to 6.8 level. *ii) However, as any good trader should know is that you shouldn't get married to a position or scenario. Therefore, for this scenario (2) at the 6.48 level instead of immedietaly closing position I advice that we re-assess the markets at that moment in time and see whether we should continue shorting down to 6.3 further easing into shorts on the ride down. **A1 is a copy/shadow of the Bars Pattern taken from A. Fundamental Analysis The strength of the US economy which led the Federal Reserve to raise interest rates this year in conjunction with Trump's Tariffs has led the Chinese Yuan to fall more than 3% again the dollar in the past two weeks as tensions between the two largest economies has escalated. Chinese companies have amassed huge leveles of US dollar debts in recent years through bond sales in Hong Kong, according to financial data provider Dealoagic. However, it seems that China has been preparing for the upcoming Trade War as Moody's Investors Service stated that 'll but five of the 49 rated South and Southeast Asian high-yield non-financial companies have protection in place against a significant rise in debt levels or borrowing costs, if their local currencies were to depreciate up to 15% against the US dollar. The 49 companies reported a combined US dollar debt total of $45.5 billion as of year-end 2017, or about 55% of their total outstanding debt'. We can expect a further depeciation in the Yuan which shouldn't be to alarming for investors as it could make China's huge export industry more competitive globally as it makes Chinese products cheaper for buyers who pay in dollars. For which Trump has in the past repeatedly accused China of manipulating its currency's value in order to acheive this.
Long
by MoneyBodySoul