CNHUSD trade ideas
USDCNH Short AnalysisUSDCNH looking forward to short this pair
Resistance Zone
Strong rejection on the Resistance zone
The Chinese yuan slips slightly today against the US dollarThe Chinese yuan slips slightly today against the US dollar thanks to the threat of fresh tariffs from Washington. However, geopolitical tensions won’t stop the pair from reaching its support area in the coming sessions. The USD/CNH trading pair is widely projected to continue its fall as the US dollar loses steam. The trade war tension between the two of the globe’s biggest economies continues to rise. Just recently, the United States President Donald Trump was reported planning to sign legislation that will enforce crippling sanctions on Chinese officials involved in the oppression of other religious minorities in China, mainly Uighur Muslims. A source familiar with the matter told reporters about the news but has not yet given any details about the target date for the signing of the legislation. If this gets signed, the trade war between Beijing and Washington will escalate into the next level, potentially disrupting the USD/CNH exchange rate.
USDCNH, ShortOn the weekly time frame USDCNH had formed a double top pattern, on the completion of the double top pattern there was a confluence of horizontal and diagonal resistance. On the daily time frame the candlestick closed below the uptrend trend line which confirms a breakout and it can be expected that Monday's candlestick appears below the trend line which now acts as resistance level.
USDCNH Broke the support 🦐Hello traders, After a nice bullrun, the price hit on huge resistance (see our previous idea) . The price retested even the dynamic resistance and broke the recent support. We will wait another retest and according to
According to Plancton strategy, we can set a nice order
–––––
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
USDCHNSELL AT THE BREAK OF EXTREME OF WAVE B.
TO THE TWO TP AREAS
PS. BEST THANK YOU IS TO SHARE WITH FRIENDS.
USDCNH sellsTechnicals:
Bearish gartley
Price at resistance
Possible downside breakout to uptrend and retracement
USDCNY is testing support (7.07-.08)3/Jun/2020:
If support zone (7.07-7.08) is good,
upper resistance zone, see (7.15~7.16),
which has two symmetries, one 0.618.
Next support zone, see (7.03-7.04).
U$D CRASH!SOMEONE EXPLAIN TO ME HOW THE DOLLAR MILKSHAKE THEORY CAN OVERRIDE U.S. SOCIETY DISSOLVING!
USDCNH BULLISH CYPHERBullish Cypher formed. RSI divergence. The price can reach 61.8 fibo retracement
USDCNH hit an extreme resistance 🦐The market has been very choppy lately and nervous.
Fundamental situation between China and US didnt helo the trend.
Now the market hit the extremely strong weekkly chart resistance and just broke the daily trendline to the downside.
IF the market will manage to break the structure we can look for a short position according to our rule.
–––––
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
In the trader war the CNH could be strengtening?I am waiting for a strong resistance zone around at 7.2 - 7.3(rising grey line) and the next coming wave could be the first wave of a wave C decline. So if there will be a reversal pattern then the next target in the falling could be somewhere around the rising 50SMA, slightly below 6.84.
USDCNH#USDCNH is moving in an upward channel that we'll break out and our targets are 1.382-1.618% Fibonacci levels.
Best regards EXCAVO
USDCNH 15, ContinuationDownward continuation after pulling back to key fib level 61.8%. Price should be seeking to fill yesterday's inefficient move down to around 7.1500 area.
USDCHN & a Dose of RealityWill the CHN continue to weaken again the USD?
Looking at charts and looking at reality go hand-in-hand as professional currency traders. Unless you own a currency business dealing in money-exchange maybe trading the RMB (USDCHN) may not be a good option.
Here is a dose of reality:
It is not a free-floating currency. Therefore, it is ridiculous for traders to rely on technical analysis alone to make financial decisions.
There will be other means to profit from the RMB that is not necessarily broker-retail trader oriented. Most of the time a retail trader will pay a swap (depending on the broker). One must do a lot of reading and gleaning into global economics, national balance sheets and a country's currency policy.
Technical:
There is a possibility that USDCHN could spike to 7.30, just as it spiked in 2015; a time where speculated holding CHN bailed out due to a sudden announcement concerning new policy on Chinese exchange rate governance. Speculating became an expensive endeavor multiple times over, and to avoid the swap the day the announcement came, many ran away. Looking at the current trend, it is possible that it will continue in the same direction.
Forecast:
If the price of USDCHN falls back down to 7.06, then cancel this forecast to 7.30.
