USD CHINESE YUAN strong momentum down The daily bars are smooth and it's nearing the floor price. I see no signs of easing the momentum yet. Only fundamental news may make adjustments for now.
CNHUSD trade ideas
Usd Chinese yuanWill yuan be able to break thru?
It is a down trend but a lot of weekly floors to pass. Thread prudently.
U Chinese Yuan shortStrong short if Yuan breaks thru the floor. As all information is priced in.
200 ma breached, price may bounce up and continue down.
USD Chinese Yuan CeilingThe down trend is now trying to break the ceiling based on historical support levels. Worth considering for your positions.
USDCNH [60] Momentum HeadfakeJan 10th, 12:00PM PST
We've had a momentum move into a consolidation with diminishing volatility (aka triangle). This is setup is early in development but worth watching. First we want one more bounce off the horizontal trend line of the consolidation. Then we're looking for this to pullback to the 240 21EMA (to prevent Over Extension) and then a quick reverse back over the horizontal trend line of the triangle. This is the entry signal. From there the target is equal to the momentum move which led into the consolidation
Will Chinese yuan break historical resistance?As the long term trend is in favor of an uptrend, but the recent ones confirm to a short. However, prices have met the weekly support and is now testing if Chinese yuan will get stronger
Usd Chinese Yuan down trendAll information priced in. Weekly shows clear movement of downtrend. Lower highs to lower lows. Ride the bear down.
Bears Have Won📏 USDCNH went below the channel's lower border, a solid indication of a potential continue of the downtrend.
🐻The consolidation may result in another bearish wave. Thus, we are looking for a Sell trade when the price breaks through the 6.880.
✅ Take Profit: 6, 866 and 6.850
🛑 Stop Loss:: 6.905
Usd Chinese yuan shortAs positive sentiment for the yuan is in place, it'll continue down but first it must pass the test for the top and latest resistance and once it bounces off that and goes further down the channel, its home free. This is provided they confirm and continue with catering to the public sentiment.
USDCNH (Yuan) obeys classical charting principlesPrior to major moves, the Yuan forms basic classical charting patterns or formations. The USDCNH can be profitably traded using weekly charts
Usd Chinese yuanAll information priced in the price.
China has one main issue and that is how to deal with covid because it seems to repeat.
China has hopes as it can still bounce to the ceiling, but what ever policy is set; drives their economy.
Here's my prayers to the Chinese. Zero covid isn't working because people get sick, but they also get stronger.
Exercise and vaccines help. China should consider assistance from the US on how to get back to normal.
Usd yuanAll priced in, weekly shows a very strong bear trend. We're currently on 2nd phase where on pull back before it may continue to go down.
In between of these, the price is volatile. D1 confirms. 4h confirms.
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Usd yuan going longSentiment on Chinese yuan because of difficulty in dealing with the Chinese covid situation and lock downs.
When rest of the world is normalising and recovering.
The Chinese could use the help of other nations and that would improve their situation. Else, my sentiment based on this chart, won't change.
I feel they will test that support and bounce further up.
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USCNH : HEAD & SHOULDER SETUPUSDCNH has displayed a 5 wave up and a high probable head & shoulder bearish formation with the neckline (NL) broken. Correction is in progress with waves A-B-C couple with Head & Shoulder formation and technical objectives seem to point commonly to a zone worth noting.
Interestingly, correction is 0.236% of the move down from wave b to recent low suggests weakness and any down thrust may lead prices to technical objective.
USDCNHHELLO GUYS THIS MY IDEA 💡ABOUT USDCNH is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the sellers from this area will be defend this SHORT position..
and when the price come back to this area, strong sellers will be push down the market again..
DOWNTREND + SUPPORT from the past + Strong volume area is my mainly reason for this short trade..
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USDCHN big shortThis is in line with how I see the market now. Indexes down. Dollar down in various currency pairs
Short is recommended in USDCNHIn a downward trend, trendline resistance is tested and short position can be taken here.
DowntrendDaily chart - a nice head and shoulders pattern, broken neckline.
Some weakness before the test of the neckline. Watch for price action against Bollinger bands and the neckline.
Monthly chart - the structure is a nice abc corrective pattern.
Trade safe
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Buy the low of the double bottom inducement at point c
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