As is typically the way in FX trading the breakout traders see a set-up on the higher timeframes and either the market uses these levels to fade the move, or the breakout fails to gain traction and ultimately reverses. Those seasoned traders who use breakouts for trade entry – often momentum and trend-followers – know the percentage of breakouts that lead to...
We expect the USD weakness across the board, specifically on the USDCNH pair. This could be quite a substantial downtrend, considering the price action around the uptrend and the downtrend trendlines.
Another exotic pair, exercise careful actions when trading these pairs. Anyway - Clearly the bias is a sell. The price reacted well off of the POI and is now creating structure, with a liquidity grab having been made to the upside. As evidenced by the 1m chart, the price is looking to break structure so you could get ready to look for the order block. An order...
The last time we looked at copper was last October, and the trade played out nicely in our favor. Much has happened since then and we think another opportunity lies on the horizon now. Revisiting the same analysis now we observe the following… China, being the largest copper buyer, its currency pair CNHUSD traditionally shares a high correlation with...
Hello traders! I would like to present an exciting trading opportunity on the USDCNH currency pair, which appears to be trading bullish on the 1-hour chart. After analyzing the price action, I have identified a compelling bullish engulfing candlestick pattern, suggesting a continuation of the upward trend. Let's dive into the details of this trade plan. Trade...
USD/Chinese Yuan has been showing dovish signals during the 3rd qtr and after the news on July 12, 2023 (which can be located on the blue location tab) the economy shows to be slowing down significantly. After news printed on the 12th of July 23, price made a clear decision just 4 hours later we can start to see some clear institutional movement with the dovish...
Hey Traders, in tomorrow's trading session we are monitoring USDCNH for a buying opportunity around 7.21600 zone, USDCNH is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 7.21600 support zone. Trade safe, Joe.
I wanted to take a moment to share some exciting news with you all about the USDCNH (US dollar and Chinese yuan) currency pair. As many of you may know, the Chinese economy has been showing signs of weakness lately, directly impacting the yuan's value. The Federal Reserve has also raised interest rates, weakening the yuan against the US dollar. But what does...
OANDA:USDCNH The ascending channel is broken and the pullback is also done. I expect the price to drop to the specified areas. what's your opinion?
As the debt ceiling discussions draw to a close, the dollar's rally indicates that markets have largely priced in this event. The focus now returns to the Federal Reserve (Fed) and its notably hawkish stance. Fed officials' recent statements and fed fund futures, which are pricing in another rate hike in the upcoming meeting, suggest it might be the right time to...
Yen Undervalued, Yuan to Lose Ground Danske Bank continues to expect that the Bank of Japan will tighten monetary policy this year, although the timing remains very uncertain. While a key argument against the Euro is that the currency is overvalued, it considers that the Japanese currency is substantially undervalued. According to Danske; “Overall, USD/JPY...
Usd/Cnh printed a reversal pattern on the hour 4 time frame The Reversal Pattern is called the Head And Shoulders Reversal Pattern. News in 3 hours is expected to be super good for the Chinese Currency... So what is the plan... We have a sell signal on the hour 1 time frame... We can sell now very small and hold the trade to the take profit.
The most recent Caixin Manufacturing PMI dipped below 50, landing back in contraction territory after two prints above the 50-mark. As the world's top exporter, China is acutely sensitive to fluctuations in both exports and manufacturing numbers. Historically, we've seen periods of Yuan devaluation during times of contracting Manufacturing PMI and exports as...
USDCNH is still trading within the ascending channel, which validates the uptrend. It is possible that the price will break below, for as long as it holds, expect a short term rally.
In this update we review the recent price action in the #USDCNH and identify the next high probability trading opportunity and price objectives to target
USDCNH long for daytrading with the double bottom strategy
USDCNH looks to be breaking out for a potentially huge move up. We first called it on April 19th, 2022. Watching this one closely!!