After been stopped out of the bearish expectation on my last speculation on this pair (see link below for reference purposes); the price found bullish potentials as it broke out of descending channel to find a new high.
Despite the new digital yuan tendency of increasing the international usage of China’s national fiat, I am of the opinion that the positive...
The prospects for further downside in USD/CNH remain a dominant subject amongst market makers as China is rolling out a digital yuan that will make her the world's second-largest economy the first country to create its own digital currency; I see a Reversal setup building up with structural tendencies that might drive the Greenback to higher highs in the coming...
+ At monthly candle chart we have 0.764 Fibonacci retracement level. This is good for buy signal.
+ Previous week candle was bullish. This is good for buy signal.
+ At daily candle timeframe market show us bullish signals at 1 hour timeframe.
Idea is wait for one hour candle timeframe closing at the highest point and go with the crowd forward.
This is very likely a one-way move (up) here - as all previous examples would illustrate.
Most importantly, this is one of (if not "The") most lopsided FX (and debt, and credit, etc.) positioning currently on the entire Globe! (Everyone and everything is currently Net Short the Dollar vs. the Yuan!)
Ergo, as this move gets going (up) it is only likely to gain...
Worth keeping an eye on this. Looking on monthly and weekly timeframes this has plummeted hugely, at some point there will be a correction. It has levelled off recently so there may be an opportunity now. To enter this I would like to see the price rise above the most recent resistance marked with the blue rectangle, if the price then holds here as a support a...
A lot can be expected between the US dollar and the Chinese Yuan in the next coming days / weeks. I think history has the best story to tell and here, I share my overall trends in which the USDCNH has been trading.
The U.S. dollar greatly depreciated against the Chinese Yuan and created a pin bar on its all time ascending support I think we could potentially see...
The long downtrend seems to have reversal now.
we have daily TF inverted hammer so bulls are
in control now.. lets BUY now SL (1ATR) just below the 6.72 + daily ATR
TP = 6.84
SL = 6.72+Daily ATR
please like and comment if you like the setup .. thank you
I believe that currently the USDCNH is having correlations previous to one of its last breakout patterns and that at the current price, it is a decent entry. I think currently this is mid risk. That being said, everything I say is on an opinion based basis. Please proceed with caution and do your own due diligence. Invest at your own risk.
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...