USDCNH trade ideas
(EP #22) Kelvin Trade Ideas - USDCNH Bat Pattern 2020-01-13A bullish bat pattern is almost complete in daily chart, it provides a potential reversal level (PRZ) from 6.86400 to 6.83940. This buying opportunity is a follow-trend trade because the weekly chart shows us market is in up trend clearly. The PRZ overlap the bottom of the bearish channel, I am waiting for confirmation signals to long this market.
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Weekly EMA50 aligned with Resistance DISCLAIMER and RISK WARNING: Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them. Don't trade with money you can't afford to lose. The contents and information provided here are for information purposes only, and are neither a solicitation nor an offer to buy or sell forex, cryptocurrencies, futures , commodities or stocks.
USDCNH REVERSAL DIRECTIONUSDCNH formed false breakout from support level @ 6.9208
RSI and MACD show positive divergence
It's expected for coming strong bullish movement to target the level 7.0020 then price will throwback to get the final target at HVN near level 7.0297
USDCNH BUY AREA DEDECTEDLooking at the chart, we can see a potential buy area between: 6.90379 / 6.85929, with a SL below: 6.85927 and a TP#1 area between 7.11314 / 7.03962 where I recommend closing 50% of your initial tradesize to give the TP#2 area "air to breave" and give you potentially more gains in the area between: 7.29197 / 7.18672
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USDCNH a big short incoming.........USDCNH a big short incoming.........
With a 1st stage deal struck and moving on to the next stage..... all technicalls aligning to me for the short to come
USD/CNH: Chaos For Chinese YuanUSD/CNH probes 7.0300 as Chinese traders weigh trade data, shift in risk tone
USD/CNH stops the previous three days’ declines.
Disappointment from China data, increasing uncertainty ahead of US tariffs and signs of protests in Hong Kong all play their roles.
The risk tone stays sluggish ahead of the key week.
USD/CNH takes the bids to 7.0300 as Chinese markets open for Monday’s trading. Traders might have reacted to the weekend data from China while trade pessimism and negative headlines from Hong Kong could have acted as additional forces.
China’s November month Exports fell unexpectedly to -1.1% versus +1.0% forecast whereas Imports rose, +0.3% against -6.4% prior, for the first time since April. Further, Trade Balance of $38.73B lagged behind $46.3B market consensus.
Even so, China’s Global Times shrugs of the trade war with the United States (US) to be the reason to worry. Also contributing to the risk-off was the Financial Times (FT) report suggesting Beijing’s order to all government offices to stop using foreign personal computers (PCs) and software within a time span of three years. Additionally, Bloomberg reported the news of the biggest pro-democracy protest in months on Sunday while anticipating more unrest to follow in 2020.
Given the market’s uncertain times ahead of the US decision on December 15 tariffs on the Chinese goods, such downbeat headlines weigh on risk tone and stop the US 10-year treasury yields around 1.84%, ignoring the Friday’s run-up.
Investors will now keep eyes on trade headlines and the US reaction to the Hong Kong protests, not to forget China’s restrictions on PC and software usage, for fresh impulse.
USD/CNH 15 Dec 2019. Technical looks pretty bearish with LHLL. 6.95 was well supported with heavy volume, we might see a temporary pull back to 7.05 area. Watch that area closely. Target price 6.9. Trade war update plays a huge part on the movement of this pair, so watch closely.
As long as 7.15 holds, we should see a further downside.
What I'm seeing on USDCNH!Gooday Traders! Do put in mind the somewhat unrest the UK general elections has brought to the market lately which did alter a lot of technical structures as this also might not play out as well.
However, from what im seeing on the USDCNH chart, price has been forming a rising wedge pattern and with what i see, there's still room for more bullish action.
Lately, price formed a bullish flag pattern, which confirms our bullish stance once again.
While this is kinda a weekly setup, i'll be watching D1 and H4 closely for confirming price action to pull the trigger.
Remember proper risk management is crucial.
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USDCNH hit 10 years top start to retrace
USDCNH hit 10 years top retrace to wave A-1 fibo 0.764 and start down to A-3, Target at 6.93, RR ratio 1:2.3
USDCNH Trade Wars news... LONG with Smiling curve.Economics news, trade wars US VS China ...
Caching bullish trend.. Prices will shooting up @ 7.11 - 7.15
possible buy setup on usdcnhwrong setup on last call on this pair, luckily we move sl to entry. now we have buy order and may short after our target reached immediately, will post that later if this plan works. goodluck
3 Falling Days in a Row A larger retracement down may be expected at least. We are in a downtrend already and I recommend to mind the doubletop and to look out for a possible Head and Shoulder if the neckline will be undercut.
Long USDCNH with Trump comment on trade deal with ChinaTrump sent a negative signal on trade deal again, mentioned that there will be no deadline to sign a deal. The only thing matter is whether he wants a deal or not. It's even better to sign after the election the next year. Also, Ross said that additional tariffs would be levied if no progress before Dec. 15th.
USDCNH - further drop, below 6,95, means end of trade warnegative divergence on weekly MACD signals longterm decreasing trend - good for oil and copper
