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USDCNY

USDCNY Next week will probably top and turn sidewaysThe USDCNY pair has been on a very strong rise since it got detached from the 1D MA50 (blue trend-line) on August 11. The bullish channel resembles that of mid April - mid May, which topped on its 6.0 Fibonacci extension from its previous Support. The RSI is printing a similar sequence that was just before that top. As a result it is a possibility that the pair tops next week around 7.300 and then pulls back to the 4.0 Fib, turning sideways until it tests the 1D MA50 again, where the next long-term trend will be revealed: either a bullish continuation or a closing below it and a new bearish pattern will be introduced. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
So, I looked at the CNY (Chinese Yuan or Juan) more, and..Check out my most recent publishing(s) referring to this particular exchange rate in the "Related Ideas" section below if your interested in the USDCNY. I took a closer look at my in-depth analysis over the weekend and felt as though it needed some adjustments (additions*) + further complication.. but its for the better.. hear me out. Ive been spending the last month or so, and will be spending as much time as necessary to catch up and become more and more familiar with what's appearing to become an even more disastrous real estate market than what we know to be the worst recorded event (in relativity) in capitalism history. ("the 2008 financial crisis") This event could be worse, simply due to the fact that China is so powerful.. (which is good for us; the money managers!) As a trader, its important to consider the recent upturn regarding political and socioeconomic gossip. IYKYK There is plenty of public and freely available information on how to approach any market using fundamental risk management. Save this, be patient, and ask questions. Happy trading, and good luck!
by Bobbyusesfib
USDCNH 11th JULY 2022Apart from the very aggressive increase in interest rates by the US central bank (The Fed), the recession issue has also made the US dollar a safe-haven choice. The Fed until last June has raised interest rates 3 times with a total of 150 basis points to 1.5% - 1.75%. This month, the world's most powerful central bank will again increase by 50 - 75 basis points, and by the end of the year interest rates are projected to be in the range of 3.25% - 3.5%. This certainly supports the strengthening of the US dollar. USD is predicted to continue to strengthen for at least the next 3 months.
Long
by DNP-FX
2
USDCNY 31st MAY 2022Asian 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 graduates and support for internet companies that list overseas. China's official PMI for May showed factory activity continued to decline but at a slower pace than in April. USDCNH APRIL 2022 USDCNH MARCH 2022
Long
by DNP-FX
Chinese yuan rebounds on Shanghai reopening hopesThe Chinese yuan rose to one-week highs on Monday, fueled by expectations that Shanghai, the country’s financial hub, will soon emerge from a two-month lockdown that has crippled economic activities in the city and weighed on the country’s overall economic recovery. The CNY traded at 0.1504 against the greenback on Monday, recovering further from an over one-week low of 0.1481 on Wednesday when the yuan weakened against a basket of 24 currencies tracked by the China Foreign Exchange Trade System (CFETS). Still, the yuan has fallen below the 0.1570-mark against the USD since April as concerns over China’s economic recovery grew following Shanghai’s prolonged lockdown that has affected consumption, industrial production, lending, foreign trade, and other aspects of the economy. The RSI indicator is at least suggesting that this recovery in the yuan may not last. Slowing economy China’s zero COVID-19 policy has definitely taken a toll on the domestic economy. In April, China’s retail sales fell at the sharpest pace in over two years as the lockdowns in Shanghai hammered consumption and the supply of retail goods. There have been reports of food shortage in Shanghai, with state-run Xinhua News reporting that multiple botanists called on residents to stop digging and consuming wild vegetables. Industrial output, meanwhile, unexpectedly fell in April versus a year earlier, reversing the modest gain in March. The drop in China’s factory output last month was the steepest since the height of the COVID-19 pandemic in February 2020. It came as lockdowns forced the closure of vital factories including those operated by local and domestic carmakers. Shanghai is one of China’s major auto production hubs and the lockdowns weighed on carmakers’ revenues in April. All-out effort to stimulate economy As investment banks and economists downgraded their outlook on the Chinese economy this year due to the lockdown’s impact, Beijing has vowed to all-out efforts to stabilize industrial and supply chains and boost infrastructure construction. On Friday, Chinese Premier Li Keqiang acknowledged that the country’s latest economic challenges are worse than those seen in 2020. Li said the government is "at a critical juncture in determining the economic trend of the whole year.” He urged local governments to make every effort in bringing the economy back to its normal track. Shanghai reopening The Shanghai government is working to ease the city’s lockdown, issuing on Sunday an action plan that consists of 50 policies and measures to help stimulate the economy. The measures include relaxing the rules on resuming production starting June 1 and expanding the scope of subsidies for companies’ pandemic prevention and disinfection, state-run Xinhua News reported Sunday.
by BlackBull Markets
USDCNY 25th APRIL 2022USDCNY still under bullish pressure. Currently, China has shown signs of implementing a new normal, but its economic growth is not as aggressive as before the pandemic. 13 Chinese cities have been in total lockdown since March, and several others have been in partial lockdown. The Chinese government reported that there were around 15,000 confirmed cases of Covid-19 nationwide in March. USDCNH D1 - 17th MARCH 2022 Although the current slowdown in China's economy has not had much impact on Indonesia in the short term, However, it must be anticipated in the long term. Especially at this time commodity prices are also experiencing an increase. USDIDR WEEKLY - APRIL
Long
by DNP-FX
Dollar / South African Rand (USDZAR) High Timeframe outline HTF (High Time Frame) outlook for the South African Rand. Lets see how it plays out over the coming months. I am currrently positioned long and per the box, break down from here and you target the next range below for some action. HTF charts take long to play out. Wonder what the news will be .... USD at monthly resistance, so probably heading to the lower box. These monthlys all tested, and weekly struggling to hold. So lower box looking prbable for now. However, this is the range to long, albiet a bit sketchy. USD looking strong against CHINA YEN , this could play a significant role, as South Africa (Along with rest of Africa) is aligned (owned) by China.
by Willco95
USDCNH 17th MARCH 202213 Chinese cities have been in total lockdown since Tuesday, and several others have been in partial lockdown. The Chinese government reported that there were around 15,000 confirmed cases of Covid-19 nationwide in March. Chinese health officials have urged people over 60 to get vaccinated - including a third booster ASAP. Technically we can see the limits of support and resistance trendline. it will be a bullish spike when the resistance line breaks. this is my trading plan for USDCNH, are you also waiting for a breakout on this pair?
Long
by DNP-FX
USDCNY Establishing a New Accumulation Range The price action of USDCNY is currently establishing a major Accumulation range, as postulated by the Wyckoff Method, between the support level at 6.3450 and the 23.6 per cent Fibonacci retracement level. The completion of the preceding downtrend, underscored by the descending channel, is confirmed by the completion of a 1-5 Elliott impulse wave pattern. A potential breakout above the upper limit of the channel could signify a subsequent test of the 23.6 per cent Fibonacci once more.
by Trendsharks
1
USDCNY About to Test a Historic SupportUSDCNY's downtrend accelerated earlier today following the release of the surprising crunch in China's trade surplus, underpinning falling global demand. The downtrend is taking the form of a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Seeing as how the price action is currently in the process of developing the final impulse leg (4-5), a bullish pullback may be due soon. On the other hand, the ADX indicator continues to thread above the 25-point mark, highlighting the strength of the downtrend.
Short
by Trendsharks
USDCNY Developing a 1-5 Elliott Impulse Wave PatternThe price action of the USDCNY continues to be developing a major 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Given the declining bearish momentum in the short term, as underpinned by the MACD indicator, a pullback to the 61.8 per cent Fibonacci retracement level at 6.4156 is likely to ensue next. This would serve as the second retracement leg (3-4) of the Elliott pattern. A potential reversal there would then underpin the likely beginning of the third impulse leg (4-5). Bears can look for an opportunity to sell there on the expectations for a subsequent dropdown to the previous swing low at 6.3570.
Short
by Trendsharks
USDCNY Likely to Rebound From the 23.6% Fibonacci The price action of the USDCNY pair has been range-trading since the 16th of July, as underpinned by the ADX indicator. Bearish pressure has been slowly accumulating over the same period, which is illustrated by the current reading of the Stochastic RSI indicator. The price action is likely to reach a new dip at the 23.6 per cent Fibonacci retracement level, which is the closest psychologically significant support level. A bullish rebound can be expected to occur there, given the current development of a Descending Wedge pattern. The latter represents a classic trend reversal pattern. The first major target for the renewed uptrend would be the descending trend line (in red) just above the 38.2 per cent Fibonacci.
Long
by Trendsharks
Cataclysms are brewing in the global stock markets. China.All because of the situation with one of the largest developers in China - China Evergrande Group, which found itself on the verge of default (debt size ~ $ 300 billion). The possible bankruptcy of the company will hurt not only the Chinese economy (remember Lehman Brothers). Deposits in Chinese banks are about to $35 trillion, which is twice the size of the United States. Chinese financial crisis will lead to unforeseen circumstances and will affect all world markets. Industrial production has negative rates in China. Now it is near the lowest level since the global financial crisis. The devaluation of the yuan seems inevitable. Best regards EXCAVO
Long
by EXCAVO
10
USDCNY Testing a Triangle The price of USDCNY is establishing a new downtrend. It is structured as a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. After having broken down below the 38.2 per cent Fibonacci retracement level, the price action is currently testing the lower limit of the Triangle. If it manages to break down below it as well, then the price action would be able to head towards the 61.8 per cent Fibonacci. However, a rebound from the lower limit of the Triangle would see the price action testing the 38.2 per cent Fibonacci from below. The latter is currently converging with the 50-day MA (in green), making it an even more powerful resistance level.
Short
by Trendsharks
USDCNY to Fall Towards the Lower End of the Accumulation The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020. The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish rebound. The latter materialised in a Dead Cat Bounce pattern, which typically represents a temporary break in the development of a broader downtrend. The pattern failed to strengthen above the 20-day MA (in red), which is why the USDCNY was then able to break down within the Accumulation range. That is why the strength of the underlying Markdown - an essential component of the Wyckoff Cycle - appears to be waning down, as underpinned by the ADX indicator after February 2021. This represents an early signal that the USDCNY is once again getting ready to consolidate in a new range. Before this can happen, however, the price action looks poised to fall to the Accumulation range's lower boundary at 6.2650 once again.
Short
by Trendsharks
EUR USD TO 1.5 - DUMP USD INDEX TO 80 - with 20% upside for RMBhey the dollar going down down down against these giant EUR and RMB . the rise of Asian currencies also help pushes the dollar lower. when the banks WAKES UP tomorrow finding that the dollar vaults is the WORST PERFORMER ASSET OF THE YEAR they will dump the usd debt papers on the streets and causing the ugliest drop for usd, simply because its hugely oversupplied.. only real utilize is 10% from its total money/paper printed. and negative return. they will shift usd to other yielding currencies with good interest ##my experience 12 yrs of trading all sorts of paper assets.
Long
by CryptoGainers
Market Insight: Maintaining a forecast of 6.30 by end 2021 - INGING discussed its expectations for the USDCNY in a recent note to clients. Finally, the PBoC acts to deter yuan appreciation After several rounds of talking down yuan appreciation, China's central bank has now taken some firmer action. The PBoC will raise fx deposit reserves from 5% to 7% effective from 15th June. This comes after the PBoC appreciated the USDCNY fixing this morning to 6.3681 from last Friday's 6.3858. Will this work? We believe that this increase in foreign deposit reserves will help to deter speculators and shield the yuan from further rapid appreciation unless those speculators believe that the yuan wil appreciate by more than 2% points from now even after the PBoC has sent this strong signal. In short, this should be enough to slow the pace of the yuan's appreciation. But it may not stop it. Is this a backward move on exchange rate liberalisation? This sounds a bit like a retrograde step to the PBoC's ambitions on exchange rate liberalisation. But it isn't really. Looking at the fixing, which continued this morning to follow overnight developments of the dollar index, it looks as if the PBoC still wants to stick to the idea of exchange rate liberalisation. But this is difficult to achieve if the PBoC doesn't like speculators occasionally taking charge of the direction and pace of the yuan FX market. A market consists of FX users and investors, including speculators. We interpret the foreign deposit reserves as a tool to deter speculation, not yuan users (such as exporters and importers). And this type of administrative measure will continue to be used repeatedly when yuan moves look to be dominated too much by speculators. We are maintaining our USDCNY forecast at 6.30 for the end of 2021.
by thunderpips
Chinese letting the USD recover while they conquer the universeIf you like Elliott waves this pair is doing a wave 4, looking at the chart more than just ultra zoomed in we can see those appear previously: On 1 hour the price is going ABC and ending with a strong red candle like some "capitulation" I think it can drop quickly a last time then reverse. If the price on this 1 hour makes a double bottom or V shape bounce is not important and I don't look too much into it buyers are sellers are fighting on the daily chart, this has nothing to do with day gambling as retail does not trade this pair AUDNZD still has 40 times more myfxbook positions than USDCNH, AUDNZD more relevant to the world economy according to retail :) It just hits the eyes, clearly this is not part of the big 2020 downtrend where China was rearing a dumper truck full of usd and unloading. What China FX reserves are made of is classified info, all I know is they are human and they are all the same, they are done selling for now (not contractual info), I'm sure they have some usd left at least a trillion, not in their best interest for the USD to go to zero (yet). I don't know who the dumbasses buying the USD are, well there is me 🙂, but anyway there are always buyers; Since this is now clear to everyone it is not just a little pullback in a downtrend it could continue for a little while. When it went down it did following a clear trendline all the way down, now it is following a trendline on the way up. A bit too simple... The chinese all too communist to make money in the exchange markets? But Karl Marx loved the markets (probably due to a "I don't want to work if only I could make a lot of money on a luck streak" and gambler mentality). Plus chinese government letting everyone know what they are doing in advance haha. Maybe it's not "inefficient" as US regulators love to say, it's simply that in the absence of retail gamblers no one is stupid enough to go against the painfully obvious trend when the government announces what they are doing? How is sentence even a thing, how are these people so bad? 😆 Nah they're a tiny minority in FX they can't possibly have a significant impact, just bankers hate risks and love simple trendlines, and FX doesn't have that many speculators trying to extract money since 2008-2013. FX undervalued by now. The USA are not part of the OBOR/BRI project. China not investing long term into the US, their future commercial mega-empire does not need them doesn't mean they don't need them NOW. Idk not much more to say, the price here is at the risk point it could reverse from here so best cheapest place to take a buy, close to getting invalidated, maximum financial opportunity.
Long
by MrRenev
2