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Usdcnhlong

USD/CNH looks set for its next leg higherUSD/CNH remains in a soliud uptrend on the daily chart and, after consolidating around the June highs and forming a bullish hammer at 7.25, the swing low appears to be in. A bullish range expansion day broke the bearish resistance line, and bulls could seek to enter upon any pullbacks towards yesterday’s low for a tigher long entry. The bias remians bullish above Last weej’s hammer low, and we could now be heade for 7.35 or the 2022 high. A small bulish hammer has also formed on the 1-hour chart. A conservative target projected from the recent leg higher suggests 7.32 for bulls, whilst if we use the run up from 7.27 it projects a target atound 7.34.
Long
by CityIndex
USD/CNH - LONG; China is dead!... and it is about to roll over. E.g. Sell it ALL!! This is the year (2023) to start the Long March (a familiar theme in Chinese history), to gain full stride, right into oblivion. Namely, the Chinese demographic implosion which has been gathering speed for quite a while now, will hit that country with undeniable force, essentially halving the population in less than the next decade and a half. This pretty much sums it up. (Why do you think they had the severe "Covid lock-downs", lasting for 3 years by now?! ...) Whether China will go down swinging is yet to be seen however, the outcome is a foregone conclusion, in any case. (Short of some oracle which could create 800 million Chinese, overnight, all between the ages of 21-35. China's current "R Factor" - reproductive rate - is half that of Covid and its varieties. - Just to illustrate the point.) The technical picture of this pair speaks for itself, as well, the pair landing/turning on massive support here. (Beijing couldn't allow the further appreciation of the Yuan without crushing an already imploding economy!) As for the monetary picture; China's >600% credit expansion in barely a decade is abjectly absurd, even by the recent, excessively loose global monetary standards. p.s. China had never had more than 70 consecutive expansion - or even stable - years in its 4000 year, illustrious history. The time has come, once again, with a well defined end in sight.
Long
by Nemo_Confidat
12
Does Fed raise rates to weaken China yuan? USDCNHI wanted to take a moment to share some exciting news with you all about the USDCNH (US dollar and Chinese yuan) currency pair. As many of you may know, the Chinese economy has been showing signs of weakness lately, directly impacting the yuan's value. The Federal Reserve has also raised interest rates, weakening the yuan against the US dollar. But what does this mean for us as forex traders? It means there is an excellent opportunity to long the USDCNH and potentially make some serious profits. So, I encourage you to take advantage of this situation and consider going long on the USDCNH. With the yuan's continued weakness and the Fed's interest rate hikes, there's a good chance this currency pair will continue to rise. Don't miss out on this opportunity to make some serious gains. Start trading the USDCNH today and take advantage of the current market conditions.
Long
by bryandowningqln
USDCNH LONGBased on the current retracement to meet the previous Monthly High, We could say that this month has a Wick to fill. -The Lower wicks From the previous Two weeks formed a Higher Low and a Bullish reversal pattern that we can observe when we go into the Lower Timeframes. - In the Daily Timeframe, We can observe strong Bullish candles that can be used to confirm the Bullish Continuation through the Daily Timeframes. With all this confluence based on the Top-Down approach, we could therefore look for an entry on the lower timeframes, mine would be based on the H4 TF with the expectation of a long move towards the next Key Level, which is the top wick on the Weekly Timeframe.
Long
by SpaceWalkerUG
USDCNH Long Term TradeFundamental Insight We all know that U.S. in tightening cycle now, and half of the world will follow soon, but only China did the rate cut. On January 5, Premier Li said the government should implement “new and greater combined tax and fee cuts ensure a stable start for the economy in Q1 stabilize the macroeconomy.” On December 27, the MoF reiterated that it would “strengthen the coordination and linkage of fiscal and monetary, employment, and other policies” and added that the government will “give play to the role of fiscal policy to stabilize investment and promote consumption.” The PBoC recently added a new call to “take more proactive measures to boost support for the real economy” and “better stabilize the aggregate credit growth” as well as “bring down the overall financing costs for businesses.”
Long
by TradingCocktail
USDCNH | Perspective for the new week | Follow-up detailsWe witnessed a 1,000pips run in our direction since my last publication on this pair (see link below for reference purpose) and the confirmation of reversal set-up at the Breakout of Neckline (CNY 6.39500) during last week trading session is the final straw that broke the camel's back for me. Higher US bond yields and hawkish Fed expectations shine the light of hope on the Greenback and we could witness a continued bullish momentum as investors brace for the Fed's meeting next week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (Double Bottom) Observation: i. It has been a mix of Bearish momentum for the USD since the beginning of this year. ii. Finding a bottom twice at CNY6.36800 within the month of October 2021 - this level in recent time sharing memory for Demand (May 2021) could be an opportunity to take advantage of a short term rally. iii. Double Bottom: The appearance of an extremely bullish technical reversal pattern describing a change in trend and a momentum reversal from prior leading price action may not be a coincidence. iv. And since testing the demand zone the second time, the price continued to find higher highs that culminated in a Breakout of Neckline @ CNY6.39500 on Friday to signify the potential direction majority might be heading in the coming week. v. With this development in place, it will be appropriate that we take advantage of this potential rally at the retest of Neckline. vi. The early hours/days of the new week might witness a further plunge in price to test the Neckline @ CNY6.39500 or below to incite Trend continuation. vii. Hence, above the Neckline remains a comfortable level to take a long position on this pair. NB: Please note that the narrative so far supports a temporary bullish momentum and this is so after putting into consideration the long term downtrend perspective... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:4 Potential Duration: 2 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USDCNH | Perspective for the new week | Follow-up detailsAfter been stopped out of the bearish expectation on my last speculation on this pair (see link below for reference purposes); the price found bullish potentials as it broke out of descending channel to find a new high. Despite the new digital yuan tendency of increasing the international usage of China’s national fiat, I am of the opinion that the positive momentum noticed during the Breakout of Bullish rectangle (CNY6.45000 and CNY6.50000 range) on the 27th of July 2021 is a bullish sign and has the potential of extending to the CNY6.5500 level and beyond in the next couple of weeks. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Channel Observation: i. CNY6.5000 level which has been a significant zone that resisted price action in the last 3 months was finally broken with a bullish engulfing candle and I suppose this event reveals a bullish momentum building up behind the scenes. ii. Bullish Rectangle: In the last 40days, the price has been moving between horizontal support and resistance levels (CNY6.45000 and CnY6.50000), a feat indicating there has been no trend. iii. The Breakout of the rectangle on the 27th of July is presently considered a false one considering the two bearish engulfing candles that followed it. iv. Despite the bearish run following the breakout, price is still contained within the rectangle hereby fortifying hopes of a second breakout. v. Above Key level @ CNY6.46000 remains a comfortable zone for selling the Chinese Yuan in the coming week with possibilities of the second breakout of CNY6.495000 welcoming an opportunity to add a position. vi. I have also noticed that since finding a bottom @ CNY6.35000, there is the appearance of an Ascending channel where price formed two positive sloping trend lines drawn above and below a price series (resistance and support levels) detailing an uptrend in price. vii. It is also worthy to note that, the Key level @ CNY6.46000 is a significant level for bullish momentum as it has a memory for buying power as far back as 2016 (see weekly chart below). viii. A further Breakdown/Retest of CNY6.53000 might welcome addition to the existing position... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 800 pips. Risk/Reward : 1:4 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USDCNH | Perspective for the new weekThe prospects for further downside in USD/CNH remain a dominant subject amongst market makers as China is rolling out a digital yuan that will make her the world's second-largest economy the first country to create its own digital currency; I see a Reversal setup building up with structural tendencies that might drive the Greenback to higher highs in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Reversal pattern Observation: i. Since mid-February 2021; the price of the Dollar has risen as it continues to find Higher highs until a successful Breakout of Key level happened early in March 2021. ii. It is obvious that the Y6.54000/6.50000 that has been a strong Supply zone for close to 3 months was finally hijacked by buyers in March 2021 with a successful Breakout. iii. Following the Breakout, the price found a niche around Y6.48000 which appeared to be a new Demand zone for Bullish expectation. iv. Taking a long term perspective view on the weekly chart; I see price action transition into a Corrective phase after the Impulsive Bearish move that began mid-last year in the coming week(s) hence my Bullish bias. v. With my Key level marked @ Y6.49000, I shall be looking forward to buying opportunity above this level to join the potential rally. Trading plan: BUY confirmation with a minimum potential profit of 1,800 pips. Risk/Reward : 1:6 Potential Duration: 15 to 25days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USD/CNH Time for Big CorrectionWorth keeping an eye on this. Looking on monthly and weekly timeframes this has plummeted hugely, at some point there will be a correction. It has levelled off recently so there may be an opportunity now. To enter this I would like to see the price rise above the most recent resistance marked with the blue rectangle, if the price then holds here as a support a long can be entered with SL just below support and a TP at 0.382 Fibonacci which is around 6.67000. This also aligns with a support area in Feb/March/April 2019.
Long
by olly48
USDCNH BULLISHA lot can be expected between the US dollar and the Chinese Yuan in the next coming days / weeks. I think history has the best story to tell and here, I share my overall trends in which the USDCNH has been trading. The U.S. dollar greatly depreciated against the Chinese Yuan and created a pin bar on its all time ascending support I think we could potentially see a strong dollar against the Yuan in the next coming days. Please leave a like to show your support 🤗. Thank you
Long
by Timgucci
2