Looking for one of the possible ABCDE moves here. On larger time frames I marked area where it would reach, if will turn south (see below). So let's go chasing some other pair and come back to this one later and see what will be plotted. Daily: 4h: Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
The Bullish Falling Wedge in the USDCNH pair has broken upwards, but in the overbought Long Signal. Therefore, in order not to forget, I think the stop level should be kept a little wide. Coronavirus is among the conditions that adversely affect the currency. I hope this situation is taken in the name of control without further threatening the health of...
The pair will continue to move higher after it broke out from a downtrend channel resistance line. The US Federal Reserve hold onto its current benchmark interest rate of 1.75%. Fed Chair Jerome Powell said America’s economic outlook had gotten stronger. This was amid the signing of the phase one trade deal between the United States and China. However, the central...
Entered on breakout (could do better), aiming for 7.05. Just raised SL below previous lows. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
It appears that the Chinese Yuan is to devalue (much) more. Fundamentally, the Chinese governement is coming up with countermeasures to offset the effects of the SARS-CoV-2 virus outbreak; which has also disrupted global trade activities. Technically, the USDCNH chart is on the verge of a break out, with MACD and OBV poised for support. Target for USDCNH is 7.15...
channeling down due to the virus and the loss usd could have with the cuts of usd GDP
This is a typical setup of pump and dump. Explanation will be provided once TP is hit.
Cnh Usd long ( usdcnh short ) and gold short
- RSI divergency - Divergência IFR - must break support @ 7.10 - precisa romper suporte em 7,10 - another support @ 7.00 (weak) - outro suporte em 7,00 (fraco) - major support @ 6.93 + 200 days ema - TARGET - alvo no suporte em 6,93 junto da mme 200 dias.
USDCNH has been in an uptrend with multiple higher lows, however, recently this began to exhaust as new higher lows (confirmed by higher highs) failed to materialize. We also had a big resistance/flip zone hit at 7.00 The swing at 6.9785 was an early entry signal, and also because it broke a smaller flip/support level above. Looking for a possible head and...
The pair will breakout from key resistance lines, sending the pair higher towards its previous high. O January 31, America officially restrict Chinese citizens coming from all parts of mainland China from entering the country. This was amid the continuous spread of the deadly coronavirus abroad. The decision came a month after the US and China signed the phase one...
An important update to the CNH chart after the latest coronavirus measurements and impact calculations. PBOC stepped in as expected to stop the bleeding and SHCOMP ending the day with a lucky -8%: In the FX market, the impact will show over the coming sessions as demand for CNH increases with capital rushing to the doors. This is not a healthy technical...
Currently waiting on Price Action to breakout of its Descending Channel, leading us back to potentially a higher set of historical data as we have reason to proceed Long. Fibonacci / Completion of Exhaustion will be necessary before entering with proper Risk - Reward.
View On USD/CNH (20 Dec 2019) Apparently UCNH is starting to show the channel of a steady downtrend and it shall continue that way. I expect it to go down to 6.88 regions soon. Let's see. All the best. DYODD, Our trade analysis may not suitable to intraday (or) short time frame trading. Whatever method you use if you do not follow the proper rule of risk...
USDCNH is approaching its resistance at 6.9419 where it is could reverse down to its support at 6.8416. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.