I'm publishing this fib projection on USDCNH for reference later, to see if any of the upcoming levels are respected.
This is the USDCNH on the 3day. Big breakout day today, breaking pretty major weekly/monthly/quarterly highs here. I'd start looking for shorts/profit targets around that 4.618-5 area, I'm thinking we test 7.2-7.25.
sistance here, got some great R:R, is worth a punt imo . Stop invalidates the setup, potentially looking to long if this trade becomes invalid. Ideally would like to see that gap getting filled. GL
If the Donald wants to play rough with China, will the Chinese continue to play nice by suppressing the RMB?
Here we are coming to the end of the corrective wave within the underlying bull trend. The time has come to start getting to work on the top-side here again, this is a move we have been tracking for some months (see attached). We are going to be exploring the speed limit of the dollar over the next few months so buckle up and get ready for some very large moves...
We see a bearish impulse down. Price is now in corrective phase. Expecting to see a continuation downward followed by another flag. Trade at your own risk. This idea is for demonstration and educational purposes only.
P.R.O. METRICS Price Action & Momentum +/- PIP POTENTIAL P.R.O. Trading LEVELS Key MarketDEPTH RANGE
Looks like the FX_IDC:USDCNH is going down as the CNH is strenghtening because it is getting obvious now Xi is getting the better part of the trade war deal and Trump might have been outsmarted. As this trade has got a huge downward potential it's something I want to be in. Th break of this flag and retest looks like a good start to building a position.
SL: 7.02 TP: 2R don't overanalyze, Trading is not about Analyze, be a Trader, not a Predicter
What happened last time...: Clearly, we hit a very strong support... What's this? It's a Bird...It's a Plane... NO! It's the Chinese Renminbi making a double bottom on the monthly chart! And a higher LOW! WOW! The US are turning socialist and the FED have DESTROYED the us dollar. It is getting abandonned. China is becoming a TITAN and the Yuan is a new...
All description on chart. Don't forget to like and follow. Thank you.
USD/CNH, D1: Resistance zone + Oversold & Divergence on RSI(14)
$USDCNH ... Cup & Handle pattern right there in the bigger picture. We then got a rising wedge shorter term. Why? Look at the #TradeWar and it makes perfect sense. Wait for confirmations and you got a safe setup right there ! The Trade War is going on and it´s getting harder and harder every week for both the USA and China. So guess where this pair might...
Not supposed to raly like this. USD not that strong. On this chart it is at a premium compared to normal. Also, USDCNH has been following USDTRY with a delay: USDSEK went down too even. Time for USDCNH.
Details on chart. 6.91 first target. Lose small and win big cheers, Pipdified.