USDCNH BUY Good morning.
We have reached the entry point for USDCHN. We invested LONG, as in the graph.
CNHUSD trade ideas
Long in USDCNHI have initiated a long position on the USDCNH currency pair based on the price touching a demand zone.
After carefully analyzing the market, I have identified a significant demand zone where buyers have shown strong interest in the USDCNH pair. This zone indicates a potential reversal in price direction and presents a favorable opportunity for a long trade.
It is important to note that trading based on demand and supply zones requires a thorough understanding of market dynamics and price action analysis. I have meticulously studied the price movement and identified this demand zone as a strategic entry point for a long position.
To manage risk effectively, I have implemented appropriate risk management strategies, including setting stop-loss levels to protect my capital in case of any unexpected market movements.
By taking advantage of this demand zone, I anticipate potential gains as the USDCNH pair potentially moves towards higher price levels. I will closely monitor the market and make necessary adjustments to optimize profitability and minimize risk throughout the duration of this long trade.
USDCNH: One More Bullish Confirmation↪️The USDCHN pair rebounded from an important level of support on a 4H chart last week.
Analyzing the 4-hour timeframe, I observed another indication of a potential bullish movement. In this instance, the pair surpassed and successfully closed above a resistance line formed by a falling wedge pattern, as well as a smaller horizontal resistance level, now support.
This suggests that the market could potentially continue to rise, with target levels set at 7.1777 and 7.2513...Trade safely 👍✅
USD/CNH ↘️ Short Trade setup ↘️Hello Everyone 🙋🏽♂️
descending channel pattern
💲 Entry Point : 7.14511
🟢 TP 7.09574 🔴 SL 7.16782
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $.
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Best Regard / EMA Trading .
Disclaimer:
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It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
USD/CNHAll three EMA of 20, 50, 200 are Bearish as well as price action that shows as of this moment, it's doing consolidation / correction at the lower time frame.
Monthly trend long for USDBecause dollar is undervalued.
China tried her best to make dollar cheap where two opportunities arise.
1. China to buy dollar cheap and keep a lot and sell upon gain
2. Other countries to buy dollar for safe reason.
3. China may try to raly yuan and other countries to use yuan, but there is no logic to do it.
4. It's either you are for or against USD. And usd is king. Don't bet against the dollar in the long run
USDCNH: Expect Further Decline USDCNH continues on its downtrend after being rejected off previous dynamic support level around 7.16 zone that now serves as resistance.
Potential short term rebound to 7.125 (R1) that would be a good entry for short position with a downside target level around 7.062 (S1).
USD/CNHAnother good looking play would be the Chinese Yuan. Strictly off of the chart, this would be a good time to look at acquiring the currency for a longer term currency swap.
USD/CNHGreat Bearish set up, so far.
0- Monthly shows Bearish Reversing
1- EMA 200 on Weekly shows: Bullish
2- Chart Pattern on Weekly chart shows: Bearish Reversal
3- Stochastic on Weekly chart shows: Oversold
4- EMA, 20, 50, 200 on Daily shows: all Bearish
5- Stochastic on Daily shows: Oversold
USDCNH. Rising wedge.USDCNH has formed Rising wedge. Although its not for trade but just a practice to draw a pattern. TP's have been identified
In the case of buing yuanChina has been buying it's currencies while it may in the short run increase it's value against dollar, the underlying issue with yuan is the fundamentals of chinese commerce has yet to change.
Property investment still not resolved in the case where it is expensive but there is no demand for the number of supply.
Failure to pay debts.
Aggressive actions against her neighbors by invading the terrirtorial watters of other countries.
Using debt to control other neighbors.
Dollar is king.
Yuan challenging the dollar is still a pipe dream.
USDCNH Buying and selling at Support & ResistanceUSDCNH Buying and selling at Support & Resistance because it looks like sideways
$USDCNH: Monthly trend reversing, interesting pattern at playXi was seen toning down his foreign policy hawkishness, perhaps between AI and this we manage to fight back against the potentially inflationary dynamics of #reshoring and #protectionism in America.
If so, #globalization remains in place, which was the higher probability outcome, a scare but the status quo remains when it comes to VERY large structures or systems everyone benefits from.
After all, Xi isn't Putin, he seems more level headed and unlikely to commit foreign relations suicide just because (cough Ukraine invasion cough).
#forextrading
The time has come to buy the yuan !Read latest news here
I am monitoring the daily chart for a more confirmed bearish signal before establishing a SHORT position. The risk/reward ratio looks very attractive from this price point as the margin to go up higher is not a lot.
$USDCNH small knife catchcatching a small knife move countertrend here
starting small
will add if we will have another acceleration to the downside
SHORT USD/CNYYellow solid lines mark the trading range.
Yellow dotted will be future MP centre and level of interest.
Lower yellow price will be support with bulls pushing back up.
Upper blue line will take turns as support and resistance.
Lower blue line will be final destination subject to PBOC refixing rate.
Precise entry level tough given slim volume up here. I'd look for multiple rejection wicks on 4H and just let it ride from there for a multi-week swing.
MARKET MAKERS THINK THERE SLICKclear as day on what the goal is.. shake out move will come for usd news, then big buy friday and so on
Will the People's Bank of China step in?The Chinese Yuan has lost a lot of ground against the dollar and it is currently trading at a critical price point. With a double-top set-up and a bearish RSI divergence, will the Yuan obey technicals or will fundamentals remain at play and the Yuan will continue depreciating against the dollar?
Technically, it speaks for itself.
USD v Chinese Yuan poised for another upward surgeWith a history of adherence to classical charting principles, the USD/CNH cross is poised for a significant upside breakout into new high ground
USD/CNHThis pair has made a Bi-Lateral flag which it can go any direction. However, my believe is that it will break down followed by a sharp uptrend. If we look at the monthly chart, we notice that we are right by Monthly trend line as well as 52 weeks High 7.3750.
Yuan ready to weaken?The USDCNH is breaking out of a triangle today ahead of key Chinese data. On Wednesday morning in Asian trade, China will release retail sales, GDP< unemployment rate and Fixed Asset Investment. Ahead of this, the pair is already threatening a move to the key resistance at the 7.3800 level. A level that has capped the market in October 2022 and Sept 2023. A break above this level is sure to trigger a massive amount of stops and could carry the pair towards the 127% extension at 7.5600. A weakening Yuan could be a way that China helps insulate the Chinese economy and it's imports (making them cheaper to the rest of the world) by allowing a fresh weakening cycle of its currency.
USD/CNHSupport 7.2800 is confirmed multiple times and holding solid to go Bullish.
0- Monthly overall is Bullish
1- EMA, 20, 50, 200 on Weekly are Bullish
2- There is no specific Chart Pattern on Weekly
3- Stochastic on Weekly shows "K" line cut "D" line and it's Bearish. However, this is not a strong formation.
4- EMA, 50, 200 on Daily are Bullish
5- Stochastic on Daily shows "K" line cut "D" line and moving Bearish
6- No Harmonic formation on daily chart
7- Entry Candle Formation is Morning Star Reversal which is a strong Bullish formation
8- Economically this pair is Bullish as China is declining and U.S is showing resiliency.
