USDCNH trade ideas
The Chinese currency is in the lowest price range since 2018FX:USDCNH
The Chinese currency is in the lowest price range since 2018
Yuan is in the Support Area
China Yuan Support Range : 6.31000-6.40000
Entry Price :6.35000
1st TP: 6.47000 R/R: 3
2nd TP: 6.59000 R/R: 6
3rd TP: 6.69500 R/R: 8.5
SL: 6.31000
USDCNH top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
What 3 Events Will Traders Be Watching This Week? 17 Jan – 21 JaWhat 3 Events Will Traders Be Watching This Week?
17 Jan – 21 Jan, 2022
Monday, January 17:
YoY China Retail Sales Dec
Year over year Retail Sales in China is predicted to slow in December 2021’s reading from 3.9% to 3.7%.
The Offshore Yuan has eyed a sub-6.34000 value against the USD since December 2021 but hasn’t held the nerve to stay this low for anything more than a brief intraday flirtation. The USDCNH is currently on the precipice of this level, trading at 6.35283 and could finally close sub-6.34000 in a daily time frame if an unexpectedly strong December Retail Sales report helps dispel rumblings of a weakening Chinese economy.
Tuesday, January 18:
BoJ’s Press Conference
The Bank of Japan’s (BoJ) Governor Haruhiko Kuroda will speak on Tuesday Evening. No significant changes to the Bank’s ultra-loose monetary policy are expected, but traders will watch for signals concerning future rate hike decisions. The market may have already begun anticipating such, with Japanese Yields hitting a six-year high last week, and with it, the Japanese Yen experienced its best weekly gain in six months.
Wednesday, January 19 to Friday, January 21:
Wednesday: YoY UK Inflation Rate Dec
Thursday: Canadian YoY Inflation Rate DEC
Friday: Japanese YoY Inflation Rate DEC
The market will be reacting to three important inflation data reports In quick succession for the last three days of the week.
A 0.1 percentage point increase is expected for all three reports. Perhaps the most important to watch will be Friday’s report from Japan as it can be considered in tandem with the BoJ Monetary Policy Minutes report, which is released twenty minutes after the inflation report.
USDCNH H4 Potential Buy TradeFX:USDCNH
Hello traders, its AZFXedge here presenting a Trade Plan on USDCNH
Market structure is Bearish since Sept 2019
Apparently, market appears to develop an Ending Diagonal Pattern on Weekly thus providing early signals of weaning momentum to the downside.
Overall market stalls at support zone at 88.6% retracement of previous Bullish move.
At this level, market can easily continue with Bearish move, but as Higher Highs and Higher Lows starts to form on H4 (and price appears to trade in Bullish Flag), there is a high probability for the market to visit 6.46000 area before continuing Bearish!
#Trade Management is Key
USDCNH UPDATEUSDCNH has recently broke above daily supply with a impulse to the upside, followed by a correction to retest previous retest previous resistance as new support in confluence with the 0.618 fibonacci. On the 4h TF we can see price is still in a corrective downtrend, waiting for a break and retest of 4H structure before we can potentially look at a long entry here.
Buy Like Banks Do!Its time to get buy step by step on the pair.
Banks are collecting the pair by #Order_Blocks and did their manipulation.
This is a personal idea based on my experiences and the trad responsibility is yours.
GoodLuck!
USDCNH - Potential trend change Potential weekly bottom, but has a lot of work ahead to grind higher.
Technicals look close for a breakout, and recent dollar strength obviously helping.
Is dollar strength sustainable, now dust settled on Powell decision etc?
USDCNH buy of decadeIn my humble opinion
Bull div on daily
Bottomy on macro
Looks nice on action reaction chart
I think china will devalue
NO ADVICE GIVEN
USDCNH LongThis is an action reaction chart
I've done the action reaction lines using major pivots on macro
I've the coned down to the daily
And here we have bullish divergence at a potential reversal spot
Trade at your own risk
G.R.I. Dec '21
USDCNH Weekly SFPEvergrande collapse + found support on the Monthly OB
Idea totally invalidated below 6.23564
USDCNH LONGUSDCNH has for a while now been stuck at the demand area but now pushing up. we hope to get some good pips riding this all the way up
Bulls ? My Lesson learnt !!Looks like the bulls may finally take price higher where we are expecting a short discount at our zone mentions months ago
Here we see a wedge bottom with a shake out for a nice mid ride up north let's see
This market is very bearish so it took months for this formation no doubt the bears want a cheaper price n I don't think this market will see higher highs maybr not in a long time n I wish I had sold it back then I'd sept on it big time n this market I'll always regret so I trynot to sleep on others Cus this market offered an expectional short hold a lifetime trade smh
USD/CNH Breaks into New Yearly Low. More Yuan Strength to Come?USD/CNH dropped to its lowest level since 2018 after the 2021 low gave way. Prices have been pressured lower by the 26-day Exponential Moving Average (EMA) following a Symmetrical Triangle breakdown in October. MACD is crossing back below the signal line while RSI heads lower. The Yuan may continue to strengthen versus the US Dollar given the current trajectory.
USDCNH Target Price 6.40760 Entry Price 6.38819USDCNH | Trend Line; Exponential Moving Averages; Pin Bar; Higher Lows; Up Trend
2021-11-20 USD CNH - longDouble bottom forming. Looking for low risk entry on lower time frames. Would like to see a higher swing high then forming of higher low.
USDCNH Potential Double bottom PlayIn this update we review a potential double bottom trading scenario in the USDCNH
