USDCNY_TOD trade ideas
USDCNY, Threshold to explode at 7 !Hello Everybody~
This is Wasabi.
I have added two channels, the downtrend and the uptrend.
It looks to me that USDCNY has made its direction to change from the downtrend to the uptrend.
As you may see, it has bounced back strongly in the 1st week of April to avoid falling back into the downtrend after its overshooting.
It is now heading for the previous double tops at about 7 dollars per yuan.
Once it penetrates the double tops at USDCNY=7, we will see it skyrocket to the moon.
Although the trading of cryptos has been banned in China, exchanging Yuan with Dollar has many restrictions.
Despite all the difficulties, the rich smart Chinese money will find its way to escape from a falling knife and it will find that the cryptos will be good alternatives.
I will be back with more ideas and indicators.
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USDCNY Blown Out and Moving HigherAs the trade tension heats up between the US and China, global traders have been putting pressure on the USDCNY.
On a technical basis,the RSI and MACD are strongly trending higher, indicating strong momentum higher for the USDCNY. Further, with the ADX firmly in trend, there are no signs of the rally in USDCNY slowing down.
If trade talks worsen or even fall apart, expect the USDCNY to move to 6.92.
Yuan spread at dangerous levelIt must turn north here for stocks to continue higher $USDCNH, $SPY, $DJIA, $FXI
USDCNY - 240 - Just a quick shout-outTrade Alert
USDCNY is flagging out, there is a chance to see a continuation of the uptrend. That said, before examining the upside, first, we need to see a clear break and a close above the upper side of the potential flag formation. Only then we may get comfortable with the upside.
If the pair breaks lower, before aiming further down, we would need to see a drop below approx. the 6.862 zone.
Please see the chart for levels and targets.
Don't forget your stop-loss.
U.S. Dollar / Chinese Yuan to SELLMarket in the overbought region.
Time your entry right.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
USDHKD PEG and the Chinese Currency..Unsurprisingly, right as the USDHKD Peg hit it's 7.85 limit, China lost its ability to prop up the Yuan, and the Yuan started to fall once again. This is further confirmation that the Yuan is subject to dollar pressure, and Hong Kong is China's "release valve" for dollar funding pressures. When the peg gets hit, the CCP has a difficult time keeping the RMB afloat.
Yuan going to year low?China Debt Indicators
New Yuan Loans Jumped $481 Billion
Shadow financing up first time in 11 months
Interbank borrowing at 6 month high
1800+ new trust products sold this year
Banks +22% wealth-management products
Margin debt in the stock market surged
U.S Dollar and Yuan Hi, CNY hits seven-months high as it retains its two consecutive days' win against USD. The CNY/USD rose to CNY6.6874 per USD1, recording the highest since 17 July.
The last two days projected a bullish engulfing as seen on the big candlestick during the last four-hour timeframe. Before the big drop from CNY6.7321 to lowest wick at 6.6887.
EMA50 was seen moving above the EMA20, showing a constructive bear trend. However, this could be reversed and show a strong rebound on the Yuan through China's proposal on USD30 billion for US agribusiness purchases.
At least bearish in short term2 scenarios
1. correction is done and started to resume lower
2. complex correction to make new high before lower.
as long as it moves below recent high, it can extend lower.
EURUSD & USDCNY correlation / US-China trade dealFX:EURUSD FX_IDC:USDCNY
Food for thought; A stronger USD/CNY -> weaker EUR/USD
We are currently seeing weaker USD/CNY and a stronger EUR/USD
When/if the US-China reaches a trade-deal, I will buy the hell out of EUR/USD. Thats a no brainer
CNY/USD - LongTechnical breakout, buy order triggered at 0.1465
May want to wait for a small retrace to look for entries and scale into position.
Use appropriate stop loss and risk management according to your own tolerance.
This is not trade or investment advice, it is merely observational and intended for informational purposes only.
You are responsible for your own actions.
Happy trading.
CNYUSD has completed the formation of BATCNYUSD has almost completed the formation of BAT insha Allah and now it is in a sell area.
Regards,
Atif Akbar (moon333)
Tough pair technical analysis (USD/ChiNeese Yuan)So there is a trend, my nennotame about corrections and some tradingview instruments, let's see outcomes
USDCNY OutlookWill be very interesting to watch longterm trend of USDCNY. rising interest rates and the contionous USAvsCHINA trade war has many people worried on the outlook of the long term Ameircan economy. where do you think the market it is heading? to watch for companies it will be interesting to see if Amazon can branch out in the heavily dominated Alibaba chinese market.
USDCNY bullish long termFA:
- FED hikes,
- China exporting its inflation,
- Emerging market crisis.
TA
- bullish formation.
