In this update we review the recent price action in USDCNH and identify the next high probability trading opportunity and price objectives to target
Price pulled back to the horizontal support level, EMA 10 support level, and EMA 20 support level. Enter a market execution order and buy limit order.
H4: the price fall down from strong supply zone h1: the price break up trend structure m15: the price break up trend structure Waiting for the pullback and make a short position Target : R:R 1:2.6
The US Dollar has been rising against the Chinese Yuan in June so far. On the 4-hour chart, USD/CNH appears to be carving out a bullish Falling Wedge chart formation. A breakout above, with resistance as the 23.6% Fibonacci extension at 6.7304, opens the door to perhaps revisiting the May high at 6.8375. Otherwise, a turn back lower towards 6.6131 would keep the...
We expect to entry level to give us long profit for a short time
Based on the current retracement to meet the previous Monthly High, We could say that this month has a Wick to fill. -The Lower wicks From the previous Two weeks formed a Higher Low and a Bullish reversal pattern that we can observe when we go into the Lower Timeframes. - In the Daily Timeframe, We can observe strong Bullish candles that can be used to confirm...
USDCNH High-risk Short Scalp. TPs on chart. 100-200x leverage. Move SL on TP: 1.5 offset, 0.5 step.
Asian shares erased early losses in Tuesday afternoon trade, as signs that China's economic pain may be gradually easing amid the easing of COVID-19 restrictions overshadowed broader investor concerns about a global inflation shock. Also lifting sentiment in the Asian region were details of Beijing's new policy support, which includes cash grants to hire fresh...
USDCNH price closed above the trend line. Break out candlestick engulfs previous candlesticks. Attributes in the chart indicates a bullish market.
The US Dollar may regain its footing against the Chinese Yuan amid favorable fundamental headwinds. China's zero-Covid policy has been weighing on local economic output. Meanwhile, rising fears of a recession in the US are slowly weakening global growth expectations. This leaves China in a tricky spot, even if conditions open up locally. A slowing global economy...
Buy and sell zone for future………. …………… ………….. ………….. ………….. ………… ..
There might huge short selling pressure will build up as price has formed head and shoulder. I'm positive on shorting this pair. Follow me if you found this helpful
If you bought this pair when I first featured it here, you have made money. If you were leveraged 50:1 - which - often is the case in forex, you have likely returned more (% returned) in this trade than what you can expect in three years of investing in a vanilla benchmark-tracking 401K. I remain long USDCNH and will continue to cover it for the foreseeable...
Its based on a very simple reason, that is Xi's personality. the first target is 7.2. and then. opps...Time will prove everything.
USDCNH has been going up for the past months after HL now we expect to come back to the OB.
Hello Friends, We applied Triangle Breakout and fibo Entry@ 100 Stop-Loss@ 23.6 Take-Profit@ 161.8 . Like , comment if You see a better picture. HAPPY TRADING
The deal was done. The Chinese Currency deal was done with R/R: 8.6 in 100 D :D