See chart for illustration Lower time frame will be published soon as price action is been monitored
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
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.
USD/CNH, D1: Resistance zone + Oversold & Divergence on RSI(14)
Details on chart. 6.91 first target. Lose small and win big cheers, Pipdified.
USDCNH about to reach another climax. watch out for the sharp drop. Please share your thoughts and views on my analysis and don't forget to like it and share with others.
as we see USDCNH make a double bottom and it's already break the trendline. so we have to wait for the candle breakout from the neckline.
Love this pair, been riding this thing for a long time, go out when it retraced and now I'm ready to get back in. Watching price action, we should see it stop at this resistance zone, I don't see it going very high up into the zone, but watch price action and when you see bearish momentum in shorter time frames look to get in. There is also bearish divergence...
Stop loss, entry price and targets are mentioned on graph.
Regardless of winter USD rate-hike the Yuan will continue to show relative strength.
This morning we saw another one sharp reversal of Yuan to growth. In the previous month, the People's Bank of China actively engaged in interventions in the foreign exchange market and spent on it more $34 bln, protecting national currency from disordrly decline, although it did not interfere USDCNH’s from crawling up. In November, we have already seen a couple...
We all know that the Yuan does not float like western currencies and there is consistent manipulation on a daily basis in terms of the Yuan's strength. I believe a revaluation and true appreciation of the Yuan is due, with technical (RSI=70), geo-political (Trade Tariffs between China and Us will never end well, china has mad treasury bonds that they can drop on...
USDCNH Timeframe: H4 Direction: Short Confluences for Trade: - Around Resistance Line of Previous High - Stochastic Overbought momentum - Fundamentally, China has seem to be slowing moving towards a psychological level of 7.00.Currently, the previous high proves to provide some resistance and we can take this as a short term opportunity to short USDCNH....
Hello everyone :D We have a double top with a hidden bearish divergence on the RSI. What that means is we have a higher high on RSI with a lower high in price. If you are looking for a short try and find a confirming pattern on a lower time frame! Much love!!