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US Dollar/Chinese Yuan

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USDCNH trade ideas

USDCNH 17th MARCH 202213 Chinese cities have been in total lockdown since Tuesday, and several others have been in partial lockdown. The Chinese government reported that there were around 15,000 confirmed cases of Covid-19 nationwide in March. Chinese health officials have urged people over 60 to get vaccinated - including a third booster ASAP. Technically we can see the limits of support and resistance trendline. it will be a bullish spike when the resistance line breaks. this is my trading plan for USDCNH, are you also waiting for a breakout on this pair?
Long
by DNP-FX
JICPT| USDCNH testing policy bottom of Chinese governmentHello everyone. USDCNH created a recent new low since May of 2018 when the trade tensions between US and China emerged, followed by sharply depreciation of Renminbi. With the help of strong export in the past two years, Renminbi went against the greenback by 12ish%. If the Renminbi becomes too strong, it'll undermine its export competitiveness. There was no wonder that the government held two meetings last year when the pair touched 6.35 (policy bottom), reclaiming the double direction movement of the currency. The government also raised reserve requirement ratio for foreign currency twice from 5% to the current 9%. I reckoned it as a signal to prevent it from further appreciation. So, how does the market react? Does the downtrend of USDCNH get reversed? Not yet from the chart. What got my attention is the 400 bullish daily candle on Jan 27th with huge volume compared to nearby candles. I guess it was sort of a intervention and I don't believe the big movement was created by retail investors. Then, there was huge volume bar(golden) candle with thin spread, suggested the battle between buyers and sellers. It seemed that buyers took a watch attitude since then. Now, the nearest control high is 6.36-6.38 . Until this zone got violated, the pair may start accumulation to form a sideway market before coming up. I'm expecting another big bullish bar soon . What do you think?
Long
by JICPT
USDCHH SHORTPossible downward movement of the pair. The price is currently in a trading zone with significant volume maintaining rejections from the top of the price and making resistance possible at the 55 period Ema, which is fundamental in my strategy for the analysis of possible trend continuations, as seen in the past, falling after the rbeote to the EMA. We see a change in directionality to bearish in indicators such as the Squeezy Momentum and MACD histogram accompanied by possible selling patterns shortly in the MACD lines and the possible loss of strength of the previous rebound to the MEA, indicated by the ADX. The move could be accompanied by the negative sloping RSI. I think it could continue its trend or look for areas below previous lows.
Short
by alcaedad
USDCNH Long Term TradeFundamental Insight We all know that U.S. in tightening cycle now, and half of the world will follow soon, but only China did the rate cut. On January 5, Premier Li said the government should implement “new and greater combined tax and fee cuts ensure a stable start for the economy in Q1 stabilize the macroeconomy.” On December 27, the MoF reiterated that it would “strengthen the coordination and linkage of fiscal and monetary, employment, and other policies” and added that the government will “give play to the role of fiscal policy to stabilize investment and promote consumption.” The PBoC recently added a new call to “take more proactive measures to boost support for the real economy” and “better stabilize the aggregate credit growth” as well as “bring down the overall financing costs for businesses.”
Long
by TradingCocktail
Is the Chinese Yuan Readying to Reverse?The Chinese Yuan spent most of 2021 appreciating against the US Dollar despite a broadly upbeat year for the latter. Now, fundamentals may be paving the way for its turnaround amid the risk of slowing demand for Chinese exports - www.dailyfx.com USD/CNH recently turned higher following a more hawkish Federal Reserve, reinforcing the key 6.3526 - 6.3238 support zone. Meanwhile, the PBOC is looking comparatively dovish. Positive RSI divergence shows that downside momentum is fading, which can at times precede a turn higher. Immediate resistance appears to be the 61.8% Fibonacci extension at 6.3833 before the midpoint at 6.4110. Down the road, the pair would have to face falling resistance from March which could reinstate the broader downside focus. On the other hand, taking out the key support zone exposes the 100% extension at 6.2936.
by QM_Dubrovsky
1
A Big Turning Point for USDCNHin the past few years, USDCNH usually found a turning point in the 1st Q, especially around the Chinese New Year. Today there is a big rally in USDCNH. Reuters report, FX conversion before the week-long Lunar New Year holiday, which starts on Jan. 31, has been traditionally heavier as exporters need to settle their dollar receipts for goods payments and employee bonuses, but markets widely expect some weakness could kick in soon. www.reuters.com Fed signal a rate hike in March and PBoC is going to keep monetary policy neutral to slightly loose, this will narrow the rate spread of these two currencies and favor more dollar strengthening. China's GDP will still have pressure this year as the Q4 GDP slowed to 4% in Q4 2021. The 20th National Congress of the Communist Party of China will be held in the second half of this year likely in Oct or Nov, the Chinese government will be busy with political issues. Will, there be any further pressure on the economy, we need to wait and see. a surge in USDCNH on 27 Jan 2022, should show a bottom of this pairs of currency and head for 6.5-6.65 in coming months.
Long
by bruceyam
What 3 Events Will Traders Be Watching This Week? 17 Jan – 21 JaWhat 3 Events Will Traders Be Watching This Week? 17 Jan – 21 Jan, 2022 Monday, January 17: YoY China Retail Sales Dec Year over year Retail Sales in China is predicted to slow in December 2021’s reading from 3.9% to 3.7%. The Offshore Yuan has eyed a sub-6.34000 value against the USD since December 2021 but hasn’t held the nerve to stay this low for anything more than a brief intraday flirtation. The USDCNH is currently on the precipice of this level, trading at 6.35283 and could finally close sub-6.34000 in a daily time frame if an unexpectedly strong December Retail Sales report helps dispel rumblings of a weakening Chinese economy. Tuesday, January 18: BoJ’s Press Conference The Bank of Japan’s (BoJ) Governor Haruhiko Kuroda will speak on Tuesday Evening. No significant changes to the Bank’s ultra-loose monetary policy are expected, but traders will watch for signals concerning future rate hike decisions. The market may have already begun anticipating such, with Japanese Yields hitting a six-year high last week, and with it, the Japanese Yen experienced its best weekly gain in six months. Wednesday, January 19 to Friday, January 21: Wednesday: YoY UK Inflation Rate Dec Thursday: Canadian YoY Inflation Rate DEC Friday: Japanese YoY Inflation Rate DEC The market will be reacting to three important inflation data reports In quick succession for the last three days of the week. A 0.1 percentage point increase is expected for all three reports. Perhaps the most important to watch will be Friday’s report from Japan as it can be considered in tandem with the BoJ Monetary Policy Minutes report, which is released twenty minutes after the inflation report.
by BlackBull_Markets
USDCNH H4 Potential Buy TradeFX:USDCNH Hello traders, its AZFXedge here presenting a Trade Plan on USDCNH Market structure is Bearish since Sept 2019 Apparently, market appears to develop an Ending Diagonal Pattern on Weekly thus providing early signals of weaning momentum to the downside. Overall market stalls at support zone at 88.6% retracement of previous Bullish move. At this level, market can easily continue with Bearish move, but as Higher Highs and Higher Lows starts to form on H4 (and price appears to trade in Bullish Flag), there is a high probability for the market to visit 6.46000 area before continuing Bearish! #Trade Management is Key
Long
by edgeAZFX