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Usdcnhshort

USDCNH (H4): Short-Term PlayUSDCNH Timeframe: H4 Direction: Short Confluences for Trade: - Around Resistance Line of Previous High - Stochastic Overbought momentum - Fundamentally, China has seem to be slowing moving towards a psychological level of 7.00.Currently, the previous high proves to provide some resistance and we can take this as a short term opportunity to short USDCNH. Suggested Trade: Entry @ Area of Interest 6.9370 - 6.9550 SL: 6.9670 TP: 6.8736 RR: Approx. 2.11 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
USDCNH setting up for a correction => We are expecting profit taking in the pair over the coming sessions. the PBOC are beginning to support a narrative providing some short-term strength into the Yuan after months of preparing for the trade war with US. => This is a very complex environment so its time to stay out if you don't know what you are doing. => A Daily close below the 6.8676 is the only level to track here for bears, if we break we are set for a test of 6.8061 and 6.7382. => Good luck all
Short
by ridethepig
USD/CNH Short IdeaUSD/CNH is showing signs of exhaustion after a bull rally which started in April 2018. Appearance of wick rejection at current high. On the day chart we see an evening star pattern, and a large bearish engulfing candle. Using fib and impulsive movement of price anticipate retracement to at least 50% or 61.8% fib level, which are key levels of this pair. Dollar is also weakening which is playing into this analysis. Placement of stop loss above previous high. Low risk to reward. Trade at your own risk. This idea is for demonstration and study purposes only.
Short
by mrsceleste
USDCNY Daily tf analysis.This analysis takes a quick look at the USDCNY on a Daily tf chart. The points noted on the chart are discussed below: (1) Major bearish trendline in the USDCNY (in color blue) that has been active since ~January 04, 2018 and was successfully tested on July 3, 2017. (2) This region marks indicates where the USDCNY is expected to find resistance on a breakout above the major trendline. This region is indicated by the price labels as ~ between $6.84 and $6.80. (3) This is the resistance area that coincides with the major trendline i.e. (1) above. The implication of both is that it indicates stronger resistance than (2) above. (3) is present between ~$6.72 and $6.67. (4) Support region between ~$6.57 and $6.53 that is expected to provide a bullish momentum upwards in price action. A break below this region is expected to see price reach between ~$6.48 and $6.44 as indicated by (5) in the chart. (6) This is the MACD with only the MACD line (blue) and signal line (orange) color shown here. Both indicate a bullish bias for the USDCNY. However, price at the trendline (1) and resistance area (2) above do suggest waiting to see what happens at the resistance area before taking further action.
by Coin_Analyst
Yuan weakness is not being confirmed by divergent Dim Sum bondsUSDCNH may be due for a correction towards 6.60. The Yuan has weakened to 6.70 per dollar and the pair appears overbought on a weekly and daily basis. Having failed to provide a confirmatory close above this key level, we may see a correction towards the 38% Fibonacci retracement level standing at 6.6056 In the meantime, the highly correlated Dim Sum bond ETF (inverted) has failed to make higher-highs in sync with the USDCNH rate's attempt. Combined with negative RSI divergence on the weekly chart, it may be foolish to buy before we see confirmation from the bond market or technical retracement to 6.6056 or lower. Disclosure: Long USDCNH remains one of my high-conviction ideas and has been a core position
by JamesHelliwell