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US Dollar/Chinese Yuan

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USDCNH trade ideas

Going Short in USDCNHHello Traders; USD CNH - Forex.com Trade Plan. Short / Sell Trade. Entry Level should be below the 50.0% FIB / Daily Support zone with Bearish candle @ 7.19050 TP - 1 : Above the FIB level 78.6% / Daily Support zone @ 7.10470 TP - 2 : Above the 4 Hour support level / Weekly Support Zone @ 7.06960 TP - 3 : Above the FIB level 100.0% / Daily support level @ 7.03090 Stop Loss should be placed at 38.20% FIB Level Stop Loss @ 7.23770 Lot Size : Portfolio Size 10000 $ Risk to Reward 1 : 1 Lot size 19560 units @ 5% Risk TP - 1 = Total PIPS in gain = 858 Profit 1.28 % TP - 2 = Total PIPS in gain = 1209 Profit 1.71 % TP - 3 = Total PIPS in gain = 1596 Profit 2.30 % Total PIPS in Stop loss = 472 Loss 0.66% After the break of Neck Line of Head & Shoulder Pattern Intact with the short trade and ride down to Weekly support down @ 6.71735. Keep trailing Stop Loss on every support level during trade to secure profits. Regards.
Short
by dilsnqamz
Update on the Chinese YuanA few months ago, I proposed USDCNH/USDCNY consolidating for a bit and then going higher, as such strong moves usually follow through. The Chinese economy looks extremely weak for multiple reasons, and I see no way that the CNH/CNY won't lose much of its value relative to the dollar. Technically it is ready for another strong move higher, and the fact that Pelosi is visiting Taiwan could be the catalyst for a breakout. Of course, I could be wrong, and the market has a pullback first. However, I think that would be a buy-the-dip opportunity. Going down to 6.6 would be a gift, and that's where I'd want to add to my long positions (short CNY). In my opinion, the market will take out the double top at 7.2$ first, maybe pull back, and then move significantly higher. However, my first target is a bit lower because I do some resistance there, as there was a breakdown that was never retested. Regardless of what your target is, the R/R here is tremendous.
Long
by BitcoinMacro
1
The USDCNH/USDCNY move was extraordinaryAs the Chinese economy was slowing even before the lockdowns, the strict lockdowns put a lot more pressure on the CNH/CNY. This created a huge divergence in the policies of the Fed and PBoC, as one was hiking and the other was cutting. For quite some time the USD was going up against most currencies, except the CNY... until one day the market fully reversed and rallied much higher. By looking back to the USDCNH price action over the last decade, we can see that the two times we got such huge rallies, the market initially pulled back, and then went higher. Now when we compare the duration of those rallies, their magnitude and how overbought the market got by using different metrics, they all look fairly similar as a whole. For example the first one from 2015 was longer and slightly larger than the current one, but the initial leg was brutal. The second one from 2018 was the largest and quickest, however the market wasn't that overbought and the move made more 'sense'. Therefore this move has the potential to be just like the previous two. In the short term I could easily see USDCNH trade back to 6.53-6.58, but my long term target is above the 7.2 double top. The same way the double top around 7 broke and the market went to 7.2, I expect the market to go above the 7.2 double top. No idea where could it top, but it is possible that we get a prolonged bull for USDCNH.
Long
by BitcoinMacro
USD/CNH:BUY From PREMIUM Area for a LONG Setup The USD in the last session, by the macro news, has a loose value against the EUR, this will affect all the pairs correlated, especially all the ones with the first denominator starting with USD. Today I want to talk about USD/CNH that comes from a long Bullish rally where in the last sessions it's inside an accumulation rectangle. We are looking to buy again here at a discount, around the 50% and 61.8% FIBO levels where the Dynamic trendline of the Bullish channel can work as additional support. The Alternative scenario will happen if the price will broke 78.2% Fibo and the Bullish channel will be invalidated.
Long
by FOREXN1
7
USDCNH probably going a lot higherA little while ago the PBOC lost control of their currency and we saw the US dollar rising exponentially. In the latest trade report from China Exports from China edged 0.3% lower yoy to USD 298.37 billion in October 2022, missing the market consensus of a 4.3% growth. This was the first decline in shipments since May 2020, amid poor overseas demand as cost pressures grew globally and supply disruptions lingered. There is a real chance that the US dollar could keep rising as the offshore renminbi CNH collapses further. China needs to export to the US to receive the US dollars, to then go out and buy stuff like Oil. This is why the Chinese and the Saudis earlier this year start to formulate a plan for China to buy direct with their own currency.
by Macrobriefing
Jackson impacting USDAfter an important Jackson, Powell consistent attempt at persuading (or forcing) equities higher is coming to an end and it is time for a round of chart updates across the board. This sort of tendency, which toys with the idea of tapering and rolling up purchases should be seen as such; USD shorts are increasingly less appropriate; but here the dominating factor between the two currencies is the transition to CBDCs and a race to the bottom. The well being and woes of China who are already miles ahead in their fourth beta test, will determine effectively who cancels the currency first. A very plausible move throughout 2020 since buyers remained hesitant to play the safety leg. I was hesitant to play the leg higher but this decision made things a lot easier. The correct course now is switching to a new course, this time an ABC sequence towards 7.31x (+13% from current levels) into 2022 to offer lasting protection, invalidation for this move will come below March 2018 lows (-3% from current levels).
Long
by ridethepig
10