Green being possible future targetPrice may go down in favor of Chinese Yuan on the monthly. Be ready to buy the discount. Shortby LittleSovi0
USDCNH rollover TO 6.72 RIP DXY With the looming BRICS news I have turned my eyes to the Yuan/ dollar pair to ride the short for the exit of the Petro dollar. THIS IS A Q2 SWING MOVE This will not be a linear drop FYI! Very very choppy as US will attempt to pull out all the stops to avoid the collapse of the Dollar safe haven. Top Down Analysis: Using the Monthly I plotted out the High resistance of 7.329 aka the highest strength of DXY from early Q4 2022. Major support lies at 6.30 We are monitoring right now and looking to enter a trade if we can get a close under 6.82 as that takes out bullish sentiment. From 6.82 we can catch 1000 pips down to 6.72 as the liquidity will gain bearish momentum. (Q1 Double bottom low) Another 1000 pips down can be a bear trap at 6.61 so we will try to take 50% profits shortly after 6.72 is taken out. This is a High volatile trade and can be aggressive in trend. Please trade with caution. ****** THIS IS NOT FINANCIAL ADVICE******Shortby chestephens11
USDCNH LONGPossible upward movement of the pair. Price is currently in a lower bound trading zone with significant volume making stops and holding rejections at the bottom of the price near the 55 period EMA , essential in my strategy for analysis of potential trend continuations. Indicators like Squeeze Momentum and the MACD histogram have turned bullish after their red valley; accompanied by the loss of bearish strength indicated by the ADX rebounding towards the EMA . The MACD lines would be giving a possible buy signal soon. I think you could go looking for the previous high price zone when you see indications of a bounce move higher on the 4-hour chart. In 1 hour timeframes we see that it has broken the bearish structure, forming higher lows than the previous ones. If you are going to take my opinion into account, please respect the projection time, this is extremely important. If it is not fulfilled in the foreseen time and makes a range, it will be better to close the operation in case it is possible.Longby alcaedad1
USDCNH H1 To Test The Weekly R1In this update we review the recent price action in the #USDCNH and identify the next high probability trading opportunity and price objectives to targetLong01:06by Tickmill3
USDCNH DOUBLE TOPUSDCNH shows bullish trend but the RSI indicator shows bearish trend . which mean diversions and we see the pattern DOUBLE top which indicates that trend is now bearish. Longby Mujtba1
USDCNH - Continuation - TriangleObserved Triangle - Ascending (Continuation Pattern) Trade Plan: Kept the Entry level at the Market price As we are taking risk & reward 1:1, the Take profit 1 & 2 are kept as equal ratio. Longby sabbahji0
A nice bearish setup on USDCNHSell USDCNH on a retest of a broken neckline, Target & stop loss as seen on the chart 📈 Shortby Versatile_TraderUpdated 2
USD/CNH: Sellers in charge now, bearish trend may accelerateLike many emerging market currencies, US dollar remains the key driver for the price action of USD/CNH. As shown below, there is a strong positive correlation between the US dollar index (DXY) and USD/CNH. US dollar has enjoyed significant gains since Fed started the tightening cycle in March 2022. The stubbornly high inflation has pushed Fed to raise interest rates aggressively, driving US dollar rising to multi-decade highs in last September. However, US dollar has top out since then as the market priced rates expectation via Fed Future Contracts reached a plateau until recently. For broader outlooks, market participants are now expecting that Fed is approaching the end of rate hikes and a pivot may not far with potential rate cuts in Q3 2023. Over the past 48 hours, the expectations about the monetary policy outlook shifted in a more dovish direction due to a softer wage growth in NFP report and the collapse of Silicon Valley Bank (SVB). On Monday morning, Goldman Sachs economists said their latest speculation is that FOMC may not deliver a rate hike at its meeting next week. The dramatic shift in monetary policy expectation casts a shadow over US dollar outlook. Look forward, inflation pressure is still a threat to US economy in 2023 as US CPI seems stickier than previously thought. With the effort of a historically aggressive Fed, US inflation has shown signs of easing. That said, the annual rate of US core CPI for January is 5.4%, far above the Fed's 2 percent goal. From China’s side, China's official manufacturing PMI for February hit 52.6, marked the highest reading since April 2012. The solid data showed the continuing recovery of economic activities after China lifted its covid restrictions at the end of 2022. As the world’s second-largest economy, China has set its annual GDP target at around 5% for 2023, slightly lower than the 5.5% of last year. China’s new premier Li Qiang said that macro economic policy would focus on stability this year, delivering more growth confidence to the market. Compared with the U.S., China’s modest inflation pressures provide it a better position to further stimulate the economic growth. With that in mind, China’s economy may have bigger room to recover in the coming months, which will support Yuan to gain some upward momentum. From a technical perspective, USD/CNH pulled back after being rejected by the neckline of a big Head-and-Shoulder Pattern on the daily chart, which is a familiar resistance around 7.0000 psychological level. The price actions point to leg lower as dollar remains weak. The immediate support can be found at 6.7966, a break below may bring the focus to the swing lows near 6.7000 and the prior inflection level at 0.6600. Shortby liuhanzhang750
Usd yuan uptrendThe cycles are uptrend. Waiting for a breakout to the moon. While we cant say it may continue to go up, but human sentiment thru ta, says it kept moving up.Longby LittleSovi0
Resistance level and subsequent consolidation - trianglethe instrument has reached resistance. The price will drop to the specified support level. After that, the formation of a consolidation in the form of a triangle will begin.by Awleksadr1
USDCNH long for daytrading with the double bottom strategyUSDCNH long for daytrading with the double bottom strategy by aardappelboy113
Yuan ceiling and floorCeiling 6.92998 Floor 6.69754 Price tested the ceiling but remains within the range. Let's see how price behaves next week.by LittleSovi0
USD CNH BULLISH TRENDUSD CNH bullish Trend..precise entry and exit .... Ride The trend.Longby junaid-shah0
USDCNH LONG | MAJOR BREAKOUT 🚨🚨USDCNH looks to be breaking out for a potentially huge move up. We first called it on April 19th, 2022. Watching this one closely!! Longby ChiefMacro0
USDCNH very very bullishI am taking position ENTRY 6.9416 STOP LOSS 6.88423 PROFIT 0.04619 Sizing: 0.02 Lots TAKE PROFIT 1= 6.97661 TAKE PROFIT 2 = 7.0228Longby junaid-shah1
Usd chinese yuanAll information is priced in. No doubt, 2 cycles of higher highs and lower highs. It would he unwise to short an uptrend. Longby LittleSovi0
USDCNH In a Bullish TrendDue to the consecutive "Higher High's" and "Higher Low's" . The USDCNH pair is Going Bullish.by khanafaan6022
USDCNH - Bullish TrendAfter changing trend, pair is turnning into bullish trend,new HH and LH, calls to take a long position in the currency pairLongby farrukhzia66110
USDCNH - Bullish TrendAfter downward trend reversal,making HH and LH, calls to take a long position in the pair.Longby farrukhzia66111
Usd chnf longSame base zone. Price shoot up. For how high, we're not sure. Only that is what the charts are showing.Longby LittleSovi221