Trade Proposal: There is a probability of first tp to the proposed (7,04535) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals. Technical analysis: USDCNH Waiting for the Range Bound and the beginning of the Ascension Trend. TP1= 7,04535
Waiting for Price to Breakout of this minor trend line holding price orders, in order to enter with precision and proper Risk/Reward. I have to wait and adapt to the market conditions that show when the market opens, by adapting means by adjusting the trading idea as price flows closer to support if it decides to. Get your Buy Stops ready is all I'm saying.
USDCNH follows a medium-term uptrend. On 27/05/2020 the pair reached its previous high at 7.20 and got rejected. In the last two weeks we saw a decline back to the SMA200 at 7.0450 where we today saw a rebound in an environment of risk aversion and dollar strength. This situation gives a long engagements a very good return/risk ratio. Trade parameters are as...
Look at the chart and the channel, a ABC of 6 years is over. Expect USDCNH to go blow 6.
As we can see, USD/CNH has been moving within an upward channel on the weekly timeframe. The price is currently near the bottom of the channel, so as we monitor price action in this area, we will look for a long opportunity after seeing bullish momentum come in.
The Yuan has been on the rise since the beginning of June 2020 and it does not appear that there will be a "slow-down" in the following week as the Greenback continues to depreciate. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Descending Triangle | Support & Resistance Observation: i. A structure depicted by drawing one trend line that connects a...
Earlier this week, the US dollar was seen sliding against the Chinese yuan thanks to the upbeat results from mainland China’s economy. Unfortunately for the Chinese yuan, it wasn’t able to hold on to its gains in the sessions thanks to the recent news about rate cuts from the People’s Bank of China. The pair is now projected to rally towards resistance level in...
Relationships between the U.S and China have been deteriorating at a really fast pace since the begging of the Trade War between both countries back in 2018, where hundreds of billions of dollars in taxes over nationals goods, were exchanged. Despite the escalation of tensions, Trump's primary goal was to try to please the agricultural sector, since the farmer's...
USD/CNH, Weekly timeframe: Horizontal mirror level + Support line + Hammer candle pattern
Trade Proposal: There is a probability of first tp to the proposed (7.13388) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals. Technical analysis: USDCNH Waiting for the Range Bound and the beginning of the Ascension Trend. TP1= 7.13388 TP2= 7.19428
Last week, the Chinese yuan notably strengthened against other major currencies in the forex market, especially against the beloved US dollar. However, the fluctuations in the risk sentiment in the global market is bound to boost the safe-haven appeal of the US dollar. The agonizingly prolonged tension between the United States and mainland China should help...
After our last call on this pair the market seem to carry on the down trend and now found a support area on the upper trend line. IF the market will break the trend line and consequently break the support structure at the resets we can look for a nice short order according to our strategy. For the one who enter in the trade at the previous signal they can keep...
USDCNH is based above key level at 7.0410 Price broke corrective downtrendline Pair is forming inverted Head & Shoulders pattern Price is based on HVN at level 7.0822 which indicates that pair is in accumulation phase MACD shows starting of bullish momentum RSI is in uptrend It's expected for coming bullish wave to target resistance level at 7.1980
USDCNH reached key daily structure support. touching the underlined level we see a bullish engulfing candle confirming the significance of this level. on 4H the price is currently forming a right shoulder of inverted head and shoulders pattern formation. 7.09 is its neckline. wait for a 4H bullish breakout of it and then buy on retest or aggressively (4H...
As we can noticed we have a beautiful head and shoulders pattern here i would really like to buy after breaking the neck line tp and SL are explained in the chart , best luck for all of you <3
USDCNH looking forward to short this pair Resistance Zone Strong rejection on the Resistance zone
The Chinese yuan slips slightly today against the US dollar thanks to the threat of fresh tariffs from Washington. However, geopolitical tensions won’t stop the pair from reaching its support area in the coming sessions. The USD/CNH trading pair is widely projected to continue its fall as the US dollar loses steam. The trade war tension between the two of the...
Bullish Cypher formed. RSI divergence. The price can reach 61.8 fibo retracement