- Seasonally CNH is strong in DEC + JAN - Seasonally USD is weak in DEC - Technically a Wyckoff distribution seems to unfold - A last upthrust / stophunt could happen but not likely - Looking for a 1 deviation drop = sellside liquidity-zone
A few months ago, I proposed USDCNH/USDCNY consolidating for a bit and then going higher, as such strong moves usually follow through. The Chinese economy looks extremely weak for multiple reasons, and I see no way that the CNH/CNY won't lose much of its value relative to the dollar. Technically it is ready for another strong move higher, and the fact that Pelosi...
As the Chinese economy was slowing even before the lockdowns, the strict lockdowns put a lot more pressure on the CNH/CNY. This created a huge divergence in the policies of the Fed and PBoC, as one was hiking and the other was cutting. For quite some time the USD was going up against most currencies, except the CNY... until one day the market fully reversed and...
A little while ago the PBOC lost control of their currency and we saw the US dollar rising exponentially. In the latest trade report from China Exports from China edged 0.3% lower yoy to USD 298.37 billion in October 2022, missing the market consensus of a 4.3% growth. This was the first decline in shipments since May 2020, amid poor overseas demand as cost...
In this update we review the recent price action in the USDCNH and identify the next high probability trading opportunity and price objectives to target
The USD/CNH is definitely worth watching as the recession narrative comes back to the forefront of investors' minds. The renewed weakness in the yuan has been mirrored in the price action of things like copper and China's stock market, which fell overnight despite US and European indices rallying. Fears over global growth intensified after China decided to...
Even fundamental analisys seems that China is not going to be the next world leader in few years, because current bullish trend is about to be broken
HELLO GUYS THIS MY IDEA 💡ABOUT is nice to see strong volume area.... Where is lot of contract accumulated.. I thing that the Seller from this area will be defend this SHORT position.. and when the price come back to this area, strong SELLER will be push down the market again.. DOWNTREND + Support from the past + Strong volume area is my mainly reason for this...
The US dollar-Chinese yuan pair ( USD/CNH ) has been trading on a bullish pennant pattern since April of this year, and is currently testing the critical 7.00 threshold, which corresponds to the close of July 2020 and 78.6% Fibonacci retracement level (2022 lows to May 2020 highs). Following the PBoC's decision to reduce Chinese domestic banks' forex reserve...
The top 50 stocks in the Shanghai Composite Index look to be collectively forming a Bearish Chinese Dragon which if it breaks down could very well send it straight down to the 1.618 Extension given that there's is only one little Support Zone Below us after the trendline is broken. Given this very great Potential Danger that is visible on the chart i will be...
In this update we review the recent price action in the USDCNH and identify the next high probability trading opportunity and price objectives to target
Following a few months of consolidation, the US Dollar seems to be making some upside progress against the Chinese Yuan. Fundamentally speaking, a hawkish Federal Reserve and dovish People's Bank of China offer upside potential for USD/CNH. This also follows measures from China's government (about 1 trillion Yuan) to bolster the economy. In response, USD/CNH is...
A continuation congestion is in the late stages for the Dollar to scream another upleg against the Offshore Yuan
Apart 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,...
USD/CNH eyeing a possible break below triangle support, which may see prices break down, potentially to the rising 100-day SMA.
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...