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CNY

USDCNH correction over, trend resumes Here we are coming to the end of the corrective wave within the underlying bull trend. The time has come to start getting to work on the top-side here again, this is a move we have been tracking for some months (see attached). We are going to be exploring the speed limit of the dollar over the next few months so buckle up and get ready for some very large moves across FX . Like the rest of the USD board, markets have been corrective and now is the time to re-establish upside exposure. Initial targets for the weekly move come in at 6.97 . There is scope to continue as far as 7.10 and 7.20. Best of luck those who are navigating around the US-China trade flows.
Long
by ridethepig
US-SINO Trade Deal Could Make AUDUSD Reach 0.72500. LONG TRADE!With the trade deal certain to be reached soon between the world's two largest economy, AUSSIE stands to benefit as CHINA usually purchase many raw materials from Australia and therefore we could see AUSSIE appreciate against many pairs. However in this case against the USD the gains might not be that high as compared to other safehaven FX pairs such as CHF and JPY. The weekly 50 EMA on the weekly chart is acting as a potential dynamic resistance and is preventing aussie from reaching new highs against the USD. In this trade setup, the long term channel has been broken and price retraced to daily 50 EMA. The primary target of 0.72500 lies where the weekly 50 EMA is present. The price is also building a constructive uptrend on the daily charts, where beneath the trendline we have our stop loss set. Below are the trade entry and exit information: Instant entry: at around 0.71300 level Stop loss: 0.70150 Take profit: 0.72500 RR: 1:1 Technical picture for this pair is pretty good however in the coming days it will be safe to monitor the fundamental aspects of this pair and see how it performs. shall there be any updates i will update in the thread below. please leave a LIKE if you find my ideas useful and follow me if you want to receive further trade ideas in the future. cheers
Long
by FX618Analysis
HSI is possible to make a double top or new time high againHang Seng Index has rally back above 292000, the low of Previous Wave one low. according to the Elliott wave rule: W4 should not enter W1. it's happening right now. so we could consider the previous one is not a impulse leg for downside movement. if it's not a downside one, we should be looking for a wave 5 rally then. a wave 5 rally should be looking for test the 2017 previous high. 33484 or even a new high. of course we might also face a failing wave 5 which is just below 33484. Last Friday we have a high volume day with 120b, with 1/4/2019 have a gap open above 29200, these are all bullish technical signal. Fundamentally, Bloomberg said that yuan-denominated government bonds and policy bank securities would be added to the US$54 trillion Bloomberg Barclays Global Aggregate Index from April and would be phased in over a 20-month period. When fully implemented, local currency Chinese bonds would be the fourth largest currency component in the index behind the US dollar, the euro and the Japanese yen, Bloomberg said. also the China and US trade talk give a positive atmosphere, in Beijing talk, it's rumor that a official welcome dinner is replace by a working dinner. so both are working very hard on details of the deal. if the China America trade deal hit the market, it will fuel the rally too.
TVC:HSILong
by bruceyam
Year of the Bull? Not according to the fundamentals...With large account deficits, disinflation and widening interest rate differentials there are many reasons to not be bullish China. Whilst on the political side there is a desperate need to keep CNY stable and stronger because China needs to attract capital inflows for the second half of 2019. Why? Because they are trying to facilitate the process of inclusion in equity and bond indexes to make China more attractive for FDI. Risks to this trade are for deterioration in Chinese macro data and if equity markets sell-off. Best of luck all and thanks for keeping the support coming with likes, comments, follows and etc.
Short
by ridethepig
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