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US Dollar/Chinese Yuan

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USDCNH trade ideas

Macro Economics- BRICS Oil Nations, GDPHi Traders, Investors and Speculators of Charts 📈💰 The 15th BRICS summit was held in South Africa from August 22-24, 2023. There have been some important updates that concluded from this summit and if you're an active trader / speculator in the Forex, stocks or commodities market, you NEED to know about this. The BRICS countries (Brazil, Russia, India, China, and South Africa) now control 30% of the entire global economy. This is up from 17% in 2000 and 23% in 2010 . The BRICS countries are also home to 42% of the world's population. Incase you missed the previous article, find it here: BRICS Total GDP With New Members: B razil: $2.08 trillion R ussia: $2.06 trillion I ndia: $3.74 trillion C hina: $19.37 trillion S outh Africa: $399 billion Saudi Arabia: $1.06 trillion Argentina: $641 billion UAE: $499 billion Egypt: $387 billion Iran: $367 billion Ethiopia: $156 billion BRICS will now control 30% of the global economy. If you're invested in any BRICS related stocks or Forex markets, this concerns you! The summit outcomes are expected to lead to a weaker US dollar in the near term. This means that currencies against the dollar will strengthen. This is because the BRICS countries are collectively a major source of demand for commodities, such as oil and gold. The outcomes of this summit lead to proposed increased investment in the BRICS economies. This could lead to higher demand for commodities, which would put upward pressure on commodity prices and the value of currencies of commodity-exporting countries, such as the Brazilian real and the Russian ruble. This would make the US dollar less attractive to investors, which could lead to a weaker dollar. _______________________ 📢 Show us some LOVE 🧡 Follow for daily updates and trade ideas on Crypto , Stocks , Forex and Commodities 💎 We thank you for your support ! CryptoCheck
Short
by Crypto-Check-
17
Yuan longMultiple rejections of the 3 level and entry on 2.5 for a 1 to 3rr is my basic prediction for yuan. For it couls still go up because of the unresolved fundamentals. Like yields didn't cut as much for loans, losing birthrate, and lack of foreign investment support on debt. Like evergrande, shadow banking, and dying house investments. This is simply because china is losing population to replace the existing mechanism. There needs a big change to revitalize the chinese dictatorship to move into a proper system of centrist merit.
Long
by LittleSovi
1
USD/CNH - LONG; China is dead!... and it is about to roll over. E.g. Sell it ALL!! This is the year (2023) to start the Long March (a familiar theme in Chinese history), to gain full stride, right into oblivion. Namely, the Chinese demographic implosion which has been gathering speed for quite a while now, will hit that country with undeniable force, essentially halving the population in less than the next decade and a half. This pretty much sums it up. (Why do you think they had the severe "Covid lock-downs", lasting for 3 years by now?! ...) Whether China will go down swinging is yet to be seen however, the outcome is a foregone conclusion, in any case. (Short of some oracle which could create 800 million Chinese, overnight, all between the ages of 21-35. China's current "R Factor" - reproductive rate - is half that of Covid and its varieties. - Just to illustrate the point.) The technical picture of this pair speaks for itself, as well, the pair landing/turning on massive support here. (Beijing couldn't allow the further appreciation of the Yuan without crushing an already imploding economy!) As for the monetary picture; China's >600% credit expansion in barely a decade is abjectly absurd, even by the recent, excessively loose global monetary standards. p.s. China had never had more than 70 consecutive expansion - or even stable - years in its 4000 year, illustrious history. The time has come, once again, with a well defined end in sight.
Long
by Nemo_Confidat
12
CNY state-owned banks' move to sell the greenback and buy the Ch- 💹 Chinese stocks and yuan surged after leaders pledged policy support for post-COVID recovery. - 🏙️ Beijing to focus on expanding domestic demand and preventing risks. - 📈 Tech giants and property developers' shares rose significantly. - 💸 Foreign investors bought nearly net 19 billion yuan ($2.66 billion) of Chinese shares. - 🛢️ Other sectors saw gains between 2.2% and 4.5%. - 📊 Goldman Sachs sees economic growth situation as slightly more dovish than expected. - 🗞️ Markets closely watching how Politburo's statements translate into actual measures.
by ShukriMahadi
USDCNH TRADE Idea SELL (24/07/2023)Another exotic pair, exercise careful actions when trading these pairs. Anyway - Clearly the bias is a sell. The price reacted well off of the POI and is now creating structure, with a liquidity grab having been made to the upside. As evidenced by the 1m chart, the price is looking to break structure so you could get ready to look for the order block. An order block can't be mapped out unfortunately,as the break hasn't officially occured. Please be aware that this sell will only be activated once the break occurs. Also be aware that the overall movement (Weekly) that is being looked for is a buy. RR may be potentially of an 8 or even more. NOTE: This is not financial advice, please do your own research and be aware that any risks are being taken solely by you, the individual.
Short
by saintprincevvs
USDCNH turns upwards after China data disappointment The Yuan has come under pressure in early trade today, driven primarily by a raft of concerning economic data points out of China. From a growth perspective, the year-on-year GDP figure of 6.3% came well below the 7.1% widely forecast. Meanwhile, underwhelming declines in both fixed asset investment and retail sales dampened the outlook for growth going forward. The Chinese have been hoping that domestic consumption could drive a fresh resurgence following the prolonged period of zero-covid lockdowns. This retail sales number does raise fresh doubts over that prediction. While the dollar has found itself under pressure of late, the rebound that appears to be underway for USDCNH comes from a notable confluence of trendline and Fibonacci support. This could bring a potential bullish turn for the pair. As such, watch for a potential move upwards in the coming days, with a move back below 7.10395 required to signal a bearish continuation.
Long
by ScopeMarkets
Bullish Opportunity on USDCNHHello traders! I would like to present an exciting trading opportunity on the USDCNH currency pair, which appears to be trading bullish on the 1-hour chart. After analyzing the price action, I have identified a compelling bullish engulfing candlestick pattern, suggesting a continuation of the upward trend. Let's dive into the details of this trade plan. Trade Plan: Entry 1 (Market Execution): 7.1800 Entry 2 (Market Execution): 7.1804 Stop Loss (SL): 7.1277 Take Profit 1 (TP1): 7.2131 Take Profit 2 (TP2): 7.2405 Reasoning: Bullish Engulfing Candlestick Pattern: The recent candlestick formation indicates a shift in market sentiment, as the bullish engulfing pattern has formed on the chart. This pattern typically suggests a reversal of the bearish trend and the emergence of bullish momentum. Strong Buying Interest: The presence of a bullish engulfing candlestick pattern signals increased buying pressure, as the buyers have overwhelmed the sellers during the given timeframe. This suggests a potential upward movement in the USDCNH pair. Trade Execution: To take advantage of this bullish opportunity, I have executed a market order with two entry points. The first entry is at 7.1800, while the second entry is at 7.1804. This allows for a staggered entry strategy, potentially capturing a better average price and managing risk. Risk Management: To protect our capital in case the market moves against us, I have set a stop loss (SL) level at 7.1277. This level represents the maximum acceptable loss for this trade setup. It's crucial to adhere to proper risk management principles to safeguard our trading capital. Profit Targets: For potential profit-taking, I have set two take profit levels. The first take profit (TP1) is at 7.2131, representing a moderate level of resistance on the chart. The second take profit (TP2) is set at 7.2405, targeting a stronger resistance level. Traders may consider adjusting their positions or locking in profits at these levels. Please note that trading involves risk, and it is essential to perform your own analysis and risk assessment before making any trading decisions. This post is intended for educational purposes only and should not be considered as financial advice. Happy trading and may the markets be in your favor! Disclaimer: The information provided here is based on my analysis as a technical analyst and may not be accurate or suitable for everyone. Trading involves substantial risk, and you should only trade with capital you can afford to lose.
Long
by T-Q
4