FX:USDCNH
The Chinese currency is in the lowest price range since 2018
Yuan is in the Support Area
China Yuan Support Range : 6.31000-6.40000
Entry Price :6.35000
1st TP: 6.47000 R/R: 3
2nd TP: 6.59000 R/R: 6
3rd TP: 6.69500 R/R: 8.5
SL: 6.31000
What 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...
the Renminbi has been very strong against the Euro throughout the year. I expect a reversal as PBOC announces new monetary easing policies every day while ECB becomes increasingly hawkish.
Republishing this from my USDCNY post.
1. Head and Shoulders pattern
2. MA's + PA show a bottoming pattern
3. China will devalue the Yuan (Remnimbi)
4. Dollar $DXY will go over 106
5. Gold $XAUUSD will go below $1,500 oz.
6. Silvere $XAGUSD will go below $15 oz.
Trade idea related to this currency pair that goes through other macro...
🌟this pair is traded for a long term situation with a high R/R value (the R/R stays the same)
🌟in this ascending channel you can see the reversed H&S formation (or the 3 buddha or 3 rivers in Japanese trading) which is an indicator for a bullish bias and its marked with faint yellow highlight
🌟you can observe a blood waterfall (marked with red highlight) which...
The strength of the Chinese Yuan and equity markets appears to be correlated due to the Chinese's increased trade presence and credit expansion. If price action continues to push below the 200 day EMA we could be likely looking at a bear market.
Could the dollar milkshake theory prove to be correct?
Only time will tell. (Dramatic music engage)
NSE:RAIN
Rain Industries on weekly chart form a cup and handle pattern and almost ready for big blast rain industries will show good uptrend from here onward. to be safe side one can wait for follow through buying on daily chart. CMP is 243.3 while 190 will be good support.
|| hari om ||
|| Shree Ram ||
|| Ambdnya ||
After an important Jackson, Powell consistent attempt at persuading (or forcing) equities higher is coming to an end and it is time for a round of chart updates across the board.
This sort of tendency, which toys with the idea of tapering and rolling up purchases should be seen as such; USD shorts are increasingly less appropriate; but here the dominating factor...
USDCNH reacting above ascending trendline support. With price breaking above moving average, we see a possibility of a further push up above our entry at 6.47452 towards graphical overlap resistance at 61.8% Fibonacci retracement and our take profit at 6.49267
Any opinions, news, research, analyses, prices, other information, or links to third-party sites...
Buyers position marks (5) as a soft and temporary floor.
Other events can cause the base to appear a lot stronger than it does, so the transfer of the attack from one direction to the other can be subtle, although not a matter of pure chance.
It has been a relatively straight forward flow, but one that has not seen much light thrown on the subject thanks to...
USDCNH in the descending channel. It forms the small bullish triangle and bearish ascending wedge inside.
☝🏻 More and more countries have trading relationships with China. It may:
- make the yuan more and more popular;
- put the dollar under structural pressure;
- increase tensions between China and the United States.
Best regards EXCAVO
USDCNH broke below ascending trendline support (now resistance). Price has also tested and pulledback below this trendline resistance. A further drop below our entry and Key 61.8% Fibonacci retracement level at 6.40076, with a possible downside target at 6.37686 could be possible. Our take profit at 6.37686 is also in line with a Fibonacci confluence zone where we...
Description :
Movements between the two currencies fluctuate sharply, as the dollar has fallen about 10 percent against the yuan since last year.
But it is close to a support that is about 3 years after the last collision. Also, the dollar index has been declining over the past year. It is possible that we will see the sheet return after the support collision...
USDCNH has been technically sound. Been following all the rules of technical patterns. As we're anticipating USD strength, we may see a push up for this pair. It looks to have reversed at the perfect place where it created a double bottom
Please note that trading exotic pairs carries bigger risks than trading major pairs.
Goodluck and trade safe!
USDCNH rebounded from major uptrendline
MACD shows start of bullish momentum
we r waiting price to exceed key level at 6.5560 to open long trade
It's expected to target level 6.6000
