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USD/CNY_TOD - USD/CNY

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USDCNY_TOD trade ideas

Chinese Yuan Chart Could Be More Important than the NasdaqThe monster rally in Nasdaq stocks has obviously grabbed most people’s attention recently. However there’s also been a major shift in currency markets as the U.S. dollar slides. That trend has paused for more than a month. Looking simply at the dollar index , it’s not clear whether the decline is ready to continue. But DXY is two-thirds European (euro and sterling). Today we want to look at another currency that’s not even a member of the dollar index: The Chinese Yuan . USDCNY consolidated under roughly 6.85 in the first half of September before breaking lower this week. That was a low in January, so it appears that old support has become resistance. The news flow is also noteworthy because China just reported better-than-expected industrial production. Interestingly, the South China Morning Post ran an editorial yesterday titled “China should seize the moment to free up controls on the yuan to expand its international use.” Coming from an officially sanctioned publication, that seems to indicate Beijing is going to let the yuan appreciate. (Which means USDCNY goes down.) Earlier in the month, Morgan Stanley predicted USDCNY will keep moving toward 6.6 by the end of 2021. Meanwhile, headlines for the U.S. dollar are just the opposite. Our economic data has rebounded somewhat, but more than half the jobs lost to coronavirus remain lost. Meanwhile, Jerome Powell and the Federal Reserve will probably keep the dovishness coming at their meeting tomorrow. Most people probably cannot trade USDCNY. However, gains in the currency have previously lifted Chinese Internet stocks like Alibaba and other members of the Nasdaq Golden Dragon China Index . We entered 2020 expecting money to flow to China after global indexes were changed. Despite the pandemic, that process has been playing out as expected. Could it even accelerate into year end? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
by TradeStation
Chinese Yuan Has Completed The Bullish Setup To Move UpHey friends hope you are well and welcome to the new update from the forex market. The Chinese Yuan has completed the bullish setup and ready to move up against US Dollar. In today's article we will watch the different chart patterns and indicators that are giving signals for the bullish movement of an Chinese Yuan. A big falling wedge: On long term monthly chart the Chinese Yuan is moving in a falling wedg. And this is considered as a bullish reversal pattern among the traders community. As this is the long term monthly chart and signals and patterns are more firmed on long term charts, therefore there are more chances that it will follow the bullish reversal behavior of falling wedge. At this time the price line of Yuan is at the resistance of wedge. But this time it will be difficult for the priceline to drop up to the support of this wedge. Later this article you will see that strong reasons why the Chinese Yuan will not reach at the support. Down channel and synchronized movement with indicators and EMAs: On weekly chart the priceline can be seen moving within a down channel and the movement within this channel is very much synchronized with the stochastic and Momentum indicators. If you take a closer look at the chart then you will notice that whenever the price line reaches and the support and the stochastic gives bull cross and momentum starts turning bullish then price action takes bullish divergence and reaches up to the resistance of the channel. But this time the priceline of Yuan is almost at the center of the channel and Stochastic has entered in over sold zone and has given bull cross. And the momentum indicator is also changed from strong bearish to weak bearish. Therefore there are more chances that the price action will not move more down to reach the support of the channel. And if the Chinese Yuan will be moved up from here then the exponential moving average 10 can also cross up EMA 21 and this bull cross between the two exponential moving averages can lift the price action more up that can lead to the breakout from this channel. A double bottom formation is cancelling the bearish move of Head & Shoulder: On the weekly chart the price action has formed a Head and Shoulder pattern.The formation of this pattern was started from the September 2019. Now the priceline has crossed down the neckline of the shoulder and reached at $0.1395 support. Now the price action is likely to form a double bottom formation that can cancel the bearish rally that was started due to this H & S pattern. A harmonic BAT formation: On the same weekly chart the price action of Chinese Yuan has completed the formation of bullish BAT and entered in the potential reversal zone. Now we have seen that the different indicators on the weekly chart has given bullish signals and after formation of Head and Shoulder the priceline is likely to form a double bottom for bullish reversal and finally the price action has also formed a harmonic BAT pattern. And at this time it is in PRZ level. Therefore All indicators and patterns are giving strong signal that Chinese Yuan has completed the setup for bullish reversal. And it can start the bullish rally at any time. Conclusion: On the long term signals and patterns are in favor of bulls rather in favor of bears, however the stop loss is must. In this trade we can set the maximum extent of the potential reversal zone as our stop loss.
Long
by moon333
1
USDCNY Bearish SetupPrice 7.1418 swings to 7.0642 for 7.0287 - all three working with 7.1128...Momentum will be good observed here, -perhaps a stochastic. Open day will tell and if price reverses and bulls break above dsl, then, this set-up will be invalid. I rest, take care. All our market shared technical set-ups are speculative, they are not guaranteed for accuracy or completeness in form of any content. At this profile page, the analysis, ideas and also, the strategy of a chart belongs to Charts34T ; - it is not a market advice. You are both responsible and liable for your own account.
Short
by UnknownUnicorn146071
USD/CNY Analysis on 4H TF, a reversal is comingHi Traders and Investors, Please find above my vision for USD/CNY for the coming days, the price is about to finish the bullish move, at 7.15, it will reverse and go back down, the price action is showing a weekness of bulls who can not make a higher high anymore and the last higher low has taken over the previous one so it's a sign of a reversal as well. Feel free to comment and share your point of view, Follow me for more daily analysis in all kinds of markets.
Short
by elidrissidriss1
Exponential Global Currency ComparisonThis is a Exponential Global Currency Graph Comparison (with a focus on India and China) These are all the "major" world currencies going back to about the early 1980's for the larger "population" countries and also a few of the more interesting places like Brazil, Egypt, Turkey, Russia, Philippines, Australia, Japan, and Mexico and more typical larger population areas like the "Euro" and (India and China). Its interesting to point out that just about all the worlds currencies have had about a -400% decrees in value of the $USD over the past 40 years or since the early 1980's. If you look at the "log" or "exponential graph" you can see clearly that the exchange rates for the $1 USD to "any other major world currency". The "typical" exchange rate is about 7 to $1 up to about 100 to $1 with a more typical range for "developing or poor" countries being around 25 to $1 to 100 to $1. And most of the others being 7 to $1 or 5 to $1. This may all change soon? This suggest that you can typically get about 4x of any other major world currency for $1 USD over this 40 year period going back to the 1980's. This will likely change!
by idasuperman
4
USDCNY, Sell SetupDisclaimer!!! the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. every trade must comply with money management, and the risk does not exceed 2% of the capital. ___________________________________________________________________________________________________________________________________________ Thank you for your support ;) Jonny
Short
by JonnyTjong
The Future Stability of Asian Currency (Central Exchange Rate)The Future of Asian Currency is very important and the Exchange Rate Stability with the United States Dollar. This "currency map" includes all the major currencies in Asia. The currency in Asia can be understood by 3 financial groupings, 10 to 1, 100 to 1, and 1000+ to 1. Here are the groupings without specific finical exchange (numbers) details. 10 to 1 with $USD: SGD: Singapore Dollar MYR: Malaysian Ringgit CNY: Chinese Yuan Renminbi HKD: Hong Kong Dollar 100 to 1 with $USD: TWD: New Taiwan Dollar THB: Thai Baht PHP: Philippine Peso INR: Indian Rupee BDT: Bangladeshi Raka JPY: Japanese Yen PKR: Pakistani Pupee 1000 to 1 with $USD: MMK: Burmese Kyat KHR: Cambodian Riel LAK: Lao Kip IDR: Indonesian Rupiah VDN: Viet Nam Dong The exchange rate "regime" is very complex in Asia perhaps a lot like the European Union's "pre euro" times? China is becoming the central monetary authority of the Far Far East in terms of "mainland non-island wealth". While most of the cultural and complex wealth remains outside of China or South of China in more "exotic currency" locations. The natural stability of a "valuable" currency typically benefits unions of currency in relation to other currencies of less value on the foreign exchange market. Devaluation is sometimes seen by overlooking currencies and making it difficult to "visualize" what something is worth from day to day or even over a 10 year timeframe some currencies have changed by a factor of 10x or almost 100 times. When a country prints more money "un-respectfully to stability" (local or regional or globally). In Asia we also see signs of "artificial" weakening of currency by forcing a currency to "stay at 1000 to 1" or directly link with the $USD when the currency is not 1 to 1 and instead forcing the currency to "float" at 1000 to 1 levels not 1 to 1 levels (1 to 1 may better benefiting global financial stability). The other major problem in Asia is the ability to have technology to "physically print" quality artistic and culturally significant modern holographic money. Rather then linking their currency with the dollar and risking long term dependence on foreign wealth many asian counties have figure out that it maybe wiser to link currently with neighbors in a "sustainable" localized inflation rather then linking "very very distant countries with problems". The problems with the USD can also be when a country "links" their currency with the USD and cause instability from across the sea. What I noticed as a solution is between India, Pakistan, and Bangladesh is that they have tried to have different currencies but make it "easier on their local people" by keeping the currencies "values similarly" even if they are not directly related to the $USD. So what costs say 80 in one country would cost "about 80 in the bordering counties". Its important to realize that the "total value" of the world economy maybe "limited" in a "safer way" by having globalized currency stability. The total GDP today of the World on Earth is about 141,859,625 million or about $141.8 trillion dollars? Its likely that even the local stock markets show very little value in terms of "public" support. For example very few stock exchanges provide "free live real time quotes". It maybe that stocks and money both will need to be revalued globally on earth and its likely that using numbers only up to 5 or 10 maybe smartest? Hope this helps everyone! :)
by idasuperman
1
History of the Indian Rupee (from the 1980's to 2020)The History of the Indian Rupee from the 1980's to 2020. This graph is relative with the other major world currencies with "yellow" indicator lines for major (historical start date) problems in the History of the Indian Currency going back to the 1980's. The Indian Rupee is has a market-determined exchange rate. However, the RBI trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate. This is sometimes called a "managed float". Other rates (such as the EUR/INR and INR/JPY) have the volatility typical of floating exchange rates, and often create persistent arbitrage opportunities against the RBI (if the USD is not stable) Note: China is the light blue graph in this study.
by idasuperman