OANDA:USDCNH It does not look like USDCNH will be seeing levels below 7.0000 soon. With 7 now becoming support I expect this to continue to move in the inflation direction. China is considering devaluing its currency for the first time ever. With Xi Jinping's ZERO-covid policy psychopathically trying to achieve ZERO virus infection rate. It is a...
In the following charts below, we will highlight why copper looks interesting to us right now. Firstly, the Copper Outright prices (orange) vs the Calendar spread (black). Copper calendar spread tend to move in-line with its outright prices, until major turning points, when the calendar spread leads the outright price movement. In February 2022, we observed the...
hey all we have in usd/cnh opportunity to buy tp= 7,17600 good luck for all
The US dollar is losing ground to some currency pairs after the US 10-year treasury Note spiked in the previous trading session. The Chinese Yuan gained 2.44% after reaching a 14-year high yesterday. The US released Initial Jobless claims this morning, and the result came out at 193K, a better than the expected figure by 22K; analysts anticipated a 215K. The...
HELLO GUYS THIS MY IDEA 💡ABOUT is nice to see strong volume area.... Where is lot of contract accumulated.. I thing that the Seller from this area will be defend this SHORT position.. and when the price come back to this area, strong SELLER will be push down the market again.. DOWNTREND + Support from the past + Strong volume area is my mainly reason for this...
The US dollar-Chinese yuan pair ( USD/CNH ) has been trading on a bullish pennant pattern since April of this year, and is currently testing the critical 7.00 threshold, which corresponds to the close of July 2020 and 78.6% Fibonacci retracement level (2022 lows to May 2020 highs). Following the PBoC's decision to reduce Chinese domestic banks' forex reserve...
It’s days like this that running a trend and/or momentum strategy works wonders. The USD pairs, notably USDJPY, USDCNH and USDCHF are ripping – We see the JPY as the weakest though with USDJPY spiking to 143.59 in early trade today, on what looks like a stop run through yesterday's session highs and amid thin liquidity. The trade-weighted JPY sits at the lowest...
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
For readers who have been following us right from our first ever TradingView idea, you’ll recall our first ever trade idea on long USDCNH. It’s been a fun 5 months writing and sharing our thoughts with the community. Much has happened since April, but two critical things stayed the same. The US Federal Reserve remains hawkish, raising rates, while the PBoC...
USDCNH currency market is bullish. Enter at the close of candlestick.
Price broke up this triangle📐 and I think there is chance for run to 6.92 and even higher. Setting BUY LIMIT order to previous range high to catch🎣 the pullback. Resistances along the way ENTRY : local high @ 6.735 STOPLOSS (SL) : local low @ 6.668 TARGET (TP) : height of the triangle projected from midpoint of the local range (BUY LIMIT - STOPLOSS) @ 6.92 ...
Following a few months of consolidation, the US Dollar seems to be making some upside progress against the Chinese Yuan. Fundamentally speaking, a hawkish Federal Reserve and dovish People's Bank of China offer upside potential for USD/CNH. This also follows measures from China's government (about 1 trillion Yuan) to bolster the economy. In response, USD/CNH is...
Following my post on HSI, my focus is also on USDCNH pair. My take is that it is in an upward channel and given the differing monetary policies by the Fed and PBoC, my take is that USD will continue to strengthen. However, we should pay more attention to the Jackson Hole symposium for more insights on the Fed's future rate policies as well as the US labour market...
Fundamental Insight: - PBOC Easing Mode - Zero covid lockdown and Increasing new strain case - Housing market problems - Forced regulation on big techs - King dolla is king
Things you should not bet against and one major of them is commodity currencies. I have done research based on sentiments and everyone is looking for a crisis out of china to be break its market, especially in the housing market. This is my personal view based on a group of commodity currencies a reversal in all of them in almost certain. Will this push for a...
A continuation congestion is in the late stages for the Dollar to scream another upleg against the Offshore Yuan
Apart from the very aggressive increase in interest rates by the US central bank (The Fed), the recession issue has also made the US dollar a safe-haven choice. The Fed until last June has raised interest rates 3 times with a total of 150 basis points to 1.5% - 1.75%. This month, the world's most powerful central bank will again increase by 50 - 75 basis points,...