USDCNH trade ideas
SITTING IN MONTHLY CHANNEL BETWEEN 7.16 to 6.95 AREA !!!Broken Previous Resistance held back in Aug 2019 to the upside
However Double Top has formed on the Weekly around the 7.16 Area
Daily Trend-line in focus now as we already have the second touch
4HR- Broke Resistance around the 7.05 Area now looking to take down to around the 7.00 Area
USD/CNH. AUD/USD 3/17 GDP Event Risk02:00 UTC Friday the 17th will be a notable event for key-event risk going into next week. The problem with this print is that Chinese GDP will be looked at with a very high degree of doubt. I don't think it will move the USD/CNH as much as it will move the AUD/USD, the world 's FX proxy to the Yuan.
This includes the AUD/USD and the AUD/YEN. The AUD/USD doesn't have the same manipulative capacities to falsify their data the way China does so I think watching the AUD/USD at 0200 on 4/17 for those looking for easy money.
09:56:56 (UTC)
Sun Apr 12, 2020
USDCNH. Will the United States Economy Endure?Hi dear friends,
The price of the American currency will fall,
because every day the Chinese economy is stabilizing
and recovering from such a terrible pandemic.
Although this is not a decisive factor,
But against this background,
the Dollar will significantly lose.
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USDCNH BIG SL SMALL TPHI, TRADERS
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USDCNH waiting for the rallyI checked the USDCNH and the price has drop away from the planned trade. However, the bullish impulse formed in W1 TF is still in tact as it retrace in 38.2 Fib retracement so I see a possible long position if there will be another rally on the upside
Entry 7.08863
TP 7.1895
SL 7.04855
USD/CNH Long Trade - Entry 7.11742Stop Loss = 7.06588 / Take Profit = 7.27177 > Coupled with a 1% risk with 3% reward.
Once the trade reaches a 2:1 point move SL in front of opening at a 1:1 point to mitigate risk.
Keep Chasing that Paper!!!
Exhaustion of uptrend in triangle patternDISCLAIMER and RISK WARNING: Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them. Don't trade with money you can't afford to lose. The contents and information provided here are for information purposes only, and are neither a solicitation nor an offer to buy or sell forex, cryptocurrencies, futures , commodities or stocks.
USDCNH Break and Retest of Rising Penant (4HR)Chart shows a bullish pennant with a break and retest. Market is overall in UpTrend as well. So, should be pushing up a good amount of pips within next few days to reach the previous highest daily resistance. This analysis has worked thus far confirming buys for me on 1 hour with "W" at the lower lows. All in all USDCNH looking long here
USDCNH 3/30/20 BUYVERY SLOW MOVING PAIR Low RISK .... OVERLEVERAGED
Price is closing and entered on a big support area
Pice formed a bullish penant got out for 20 pips last week before market closed due to swap fees for holding over the weekend would like to see it push all the way up to the top of the start of the penant
Breakout of minor trendlineDISCLAIMER and RISK WARNING: Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them. Don't trade with money you can't afford to lose. The contents and information provided here are for information purposes only, and are neither a solicitation nor an offer to buy or sell forex, cryptocurrencies, futures , commodities or stocks.
Descending Triangle Wait for break out and retest of about 61.8% fib retracement then enter sell. GL
20200331 Short USDCNHChinese March PMI data beat expectation. Manufacturing PMI jumped from 35.7 in Feb to 52 in Mar. (Exp. 44.8) while Non- manufacturing PMI jumped from 29.6 in Feb. to 52.3 in Mar. (Exp. 42). Data shows that the economy has been stabilized since the outbreak of the virus. Now might be stronger comparing to the U.S. Technically, USDCNH is still above 7, and relatively high comparing to recent highs. Daily MACD is currently downward sloping, stochastic also passed overbought zone, might be a chance to sell USDCNH.
