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OFFSHORE CHINESE YUAN / U.S. DOLLAR

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CNHUSD trade ideas

USD roaring back ....You see, there are few hundred pairs of forex currencies in the market , excluding the ETFs and other instruments. Like I said before, choose a few to trade and get really good at it. Study the chart so well that you can memorise the top, bottom, support , resistance level ,etc by hard. This experience , nobody can takes away from you. When you mixed one too many, you might get confused (at least for me) and get drowned in the analysis, jumping from one indicator to another , from one time frame to another just to convince yourself to see what you want to see AND not what the chart is really telling you. This is an occupational hazard, imo . I visit China once a year and converting SGD to RMB is something that I have to do. While now , we do not carry too much hard cash like before, knowing the rates of exchange still helps in knowing when to exchange more or less. So, if USDCNY goes up, SGDCNY also follows. You can say they are positively related. And also , we buy quite frequent from Taobao (online shopping of Alibaba) and need to pay shipping fees and all. So, the rates of exchange helps us to consolidate our orders rather than buying piece meal. Every cents count , I guess especially now in this Covid-19 season, haha.
Long
by dchua1969
The recovery momentum of Turkish lira investorsThe recent rate cut from the Turkish central bank has stopped the recovery momentum of Turkish lira investors. As of writing, it’s seen that the pair is gradually gaining once again and this time, it’s believed that bulls will bring it back to its resistance. However, it’s still uncertain whether bulls will have enough strength to break the pair’s resistance as the Turkish economy gradually reopens. Meanwhile, late last week it was reported that the Turkish central bank eases its official interest rates, or otherwise known there as a one-week repo rate from 8.75% to just 8.25% as expected prior. Bullish investors of the pair immediately saw an opening to gain again following the central bank announcement. However, as the move was still in line with expectations, it didn’t cost major losses for the Turkish lira immediately. Economists are still warning that the consecutive rate cuts are putting intense pressure on the Turkish lira and the country’s economy.
Long
by Financebroker
Signs say that USD/CNH will continue to head upwardsThe nerve-racking trade tension between Washington and Beijing has propelled the US dollar to the Chinese yuan exchange rate. Signs say that the pair will continue to head upwards, reaching its resistance and surpassing its highest levels from late last year. looking at the pair, it’s evident that it has just become bullish last month when the 50-day moving average climbed up against the 200-day moving average. The US dollar rises against a number of currencies in the market as mainland China accuses the United States of pushing geopolitical tensions to a new “cold war”. And the once again escalating anti-Beijing protests in Hong Kong is making it difficult between the two parties to patch up things. See, last week, China announced a newly published draft law that will remove the special administrative region status of Hong Kong and give the Chinese government more power in the Asian financial hub. A move that raised several eyebrows.
Long
by Financebroker
USDCNH. The price reversed and begins to fall.Hello dear subscribers! The price of this currency pair is constantly changing. In the previous chart about this pair, there was a classic cup and a handle pattern and it worked! The price hit the resistance level and turned in the opposite direction. The price will continue to fall to the target. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Short
by UnknownUnicorn6402893
1
USDCNH. Cup and handle. Hello dear subscribers! The economic battle between the Great Powers continues. The price of the Dollar shook at the beginning of May, but as soon as the price of oil began to rise, the American currency strengthened in the world market, and this is facilitated by the currency printing press, which operates at full capacity. So the price will develop according to the cup and handle pattern. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Long
by UnknownUnicorn6402893