Yuan back to strength ...Chinese currency looked like would take a major impact from dollar but it didnt came up true... for now its a sell Shortby diegotrader99880
Renminbi commodities link and the USDThere is a clear shift in economic powers. Further trade wars between US/China are likely to continue, which can put pressure on the PBC to weaken the Renminbi in order to be able to result in attractive export prices. At the same time the commodities link going to provide a downside buffer as the inflation expectations are on the rise worldwide due to central bank stimuli. This double edged sword behavior is similar to the USD acting as a reserve currency: being attractive both due to its liquidity as well as having a strong sovereign economy backing it. 0.14 seems to be an absolute floor for these pairs, 0.1436 - 0.1463 going back to near the 2008 peg provides immediate support zone. The dominant trend is still down from 2014, but hitting support again can provide a boost to the upside breaking the upper boundary of the triangle. A clear break above 0.156 paints a bullish outlook. Current IG client sentiment is 57% long.by SubZero3
USDCNY Bearish divergence still in playAs charted, with death cross & bearish divergence in play. Obviously, this pair is heavily influenced by geopolitics and central bank policies. It may be unwise to base one's trades solely on the chart. I've posted a few podcasts on the USD. You can find them on YT on my channel DrJLT Economics.Shortby DrJLT0
USDCNY ReversalFX_IDC:USDCNY The dollar appears to be bottoming vs the yuan and is reversing with some strength. Considering the current trajectory of the DXY, I am thinking this is going to go much higher by the time this is all said and done. I would not be surprised if we see USDCNY > 6.75 by the time this is all said and done. The DXY: This idea on USDHKY shows the type of move I would be expecting. Longby cmerged0
USDCNY falling will be continuedHi everyone! USD/CNY pair headed for decrease and, I consider that falling will be continued to the lower line of the channel about about 2.618 according to Fibonacci. TP = 6.4739 Information provided is only educational and should not be used to take action in the market. Shortby Yuriy_KuznetsovUpdated 1
Yuan rolling overChina has finished buying commodities and have a shortage of Dollars. Must print to buy Dollars. All of things that has happened in Q3 and 4 2020 and Q1 2021 will be reversed.Shortby BullsOfHymir0
Downtrend Falling wedgeStrong downtrend...but possibly forming support. Price tried to break top trendline of channel down and was rejected. Before downtrend got some energy, price was making it to upper bollinger band set on an 80 MA. Now having struggling to make it to middle bollinger band and has not made it to the MA in a while Bullish case: It has broken up and out of the falling wedge and possibly forming support. Falling wedges can be bullish at the bottom. The trendlines of a falling wedge in a downtrend slope in the direction of the trend and converge at the apex. In an uptrend, a falling wedge slopes countertrend but can also be bullish if price breaks up and out of the falling wedge.. Bearish case: Downtrend and has not broken upper trendline. Price was rejected at attempt to break upper trendline on first attempt, although red candle did not engulf the green candle. Marubozo bullish green candle followed by a red candle of same size taking the gains away from previous trading day. No recommendation by lauraleaUpdated 2
CNY trend change imminent?Divergence + critical level + overbought Note that this chart is "weekly" timeframeShortby rezmeplx1
8 Good Reasons To Short USDFive world-class investors that are bearish on USD... 1) Ray Dalio “You can’t continue to run deficits, sell debt or print money rather than be productive and sustain that over a period of time. If we don’t work together to do the sound things, to be productive, to earn more than we spend, to build the stability of our currency and build a good balance sheet, we are going to decline." www.marketwatch.com 2) Stephen Roach "The US dollar could collapse by the end of 2021 and the economy can expect a more than 50% chance of a double-dip recession" “The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit” “The dollar is going to fall very, very sharply.” markets.businessinsider.com 3) Hugh Hendry “When I look at the world of macro, I think it’s telling us that we need a lower print on the dollar itself.” “I think we need the Treasury, and not the Fed, to step up to the plate and tell the world ‘we’re going to target 70 or 60 on the dollar index.’ That would change the world.” www.cnbc.com 4) Warren Buffet "The rest of the world owns $10 trillion of us, or $3 trillion net." "If lots of people try to leave the market, we'll have chaos because they won't get through the door." "If we have the same policies, the dollar will go down." moneyweek.com 5) Ulf Lindahl will plunge 36% against the euro over the next year or so, taking it to levels it has not seen in more than a decade, and “is the beginning of a very large move.” www.reuters.com Note: Analysts from Citi, Goldman Sachs, and BlackRock are also bearish on USD www.aljazeera.com markets.businessinsider.com www.reuters.comShortby UnknownUnicorn13791118115
USD long term trend analysis. IDEAHistorical metrics trending to match hyper inflation. Possible shifts to a new central currency, not trade advice, just a quick swing correlation that peaked my interest.by foxtech0
USDCHY meets a strong support areaThe USDCNY meets a strong support area IF Harmonic patterns support area are @-1-6.4515 @-2-6.3521Longby Figo1
USDCNY - LONG Interesting looking movement which is worth having in your future trading considerations. DXY has a very similar set up. Longby SkyTrees1
CNYUSD Leveling Up!And the first one up on the CNY series now, CNYUSD is definitely bullish to the nth degree. looking for a move up now and probably a few more after that. One thing at a time, so I'll be concentrating on the most immediate goals. I always say this, and I will say it again, nothing I say is financial advice. Think for yourselves! Fibonacci goals in green or purple, invalidation is in red. Fractals never lie and Fibonacci series shows us a few goals out of a million or more possibilities.Longby Rykin_CapitalUpdated 1
The Analysis you CravePlease do not listen to anything I say. 1. Buy Yuan now 2. China keeps on China-ing 3. ???? 4. Profit Longby Findnance221
ridethepig | CNY for the Yearly Close📌 CNY for the Yearly Close... In the usual tradition, this topping formation appeared to fit the bill! The correct way to play it was for sellers to proceed; dollar weakness was knocking while CNY was quite tenable. It is now obvious that the above mentioned development has been less time consuming that the initial legs higher: This means the position we are tracking into the yearly close appears quite harmless but is very alarming. Sellers are now threatening to occupy the lows, in addition it has been quite comfortable for them with Trump unable to say much, the Biden Whitehouse will ensure dollar devaluation with extreme care. This year has clearly been the year of the yuan. In order to chase the moves lower; let's look for some targets and areas to unload liquidity - I am tracking 6.242x for the minor targets and 6.040x for the major targets in 2021. This obviously recognises the charming continuations, sellers should look for any weak rallies to scale into towards year-end. Thanks as usual for keeping the feedback coming 👍 or 👎 Shortby ridethepig10
USDCNY short. w46 2020Monthly Downtrend Overall Bearish market = only sell positions Looks like pullback in downtrned Weekly Downtrend strong. No much support of buyers - quick Daily Downtrend - enters on pullback. Good time to short due to 1. Asia created block against USA. Strenght CNY. 2. DXY rather will be weak due to quantative easing policy. Weak USD. RSI no so oversold Open On pullback 6.5750 TP 6.4850 SL 6.6000 RR 3.3 Shortby DmitryZZZ1
Professional Swing trading template for the prosAs a professional trader you will see instantly where the market turns with the color changes. PM me for more info and Happy becoming a billionaire trading!! by QuinyD0
Ultimate swing trading Indicator!!!For the experienced swing traders out there. Have a look and see how much easier this makes your entries with the color changes. You should see it instantly. A friend of mine built this trading template for swing trading. Questions only through private chat.by QuinyD1
CNY/USD Medium-Term Analysis: Weekly Market BreakdownIn this analysis, we started taking on the majors against the U.S. Dollar (USD), beginning with the Chinese Yuan Renminbi (CNY). Despite its still lower status in comparison with the traditional majors (USD, GBP, EUR, CHF, JPY, CAD, AUD & NZD) and also its lower liquidity and overall current non-relevance in the wider FX market, it nonetheless scored the highest appreciation in the last quarter in USD terms, higher than any other traded currency, either major or minor, with over 5% up on the 'Rate Of Change' (ROC) for the last 15 periods on the weekly. With that in mind, we begin this series by carefully analysing this pair, taking into consideration major support and resistance levels, as well as divergences between price action on the IDC (i.e. 'broker-neutral') compiled chart & oscillator data (ROC, 15, W). For this specific analysis, we opted for not using Fibonacci levels and instead adopted price action pivot points for framing our perspective on market movements. We're hoping to continue this series on the other majors and (if time allows it!) dive into some of the minors as well. Wish you guys good trading and if you enjoy this analysis, please give me a like and share your ideas on the comments section, I'll really appreciate feedback from you guys and I promise to read and reply to each and every one of them as soon as possible. An amazing week for all of you and until the next post! :)Shortby acsedward2
Expecting a downturn on the USDCNY.Yes, about to enter Subwave 4, retrace to some estimates I indicated. Then finish off the main Wave 5 of impulse. Then she'll retrace again, most likely to .618 or even lower. No guarantees folks, even with Elliott, which the closest thing to a guarantee in market forecasts. NFAShortby Rykin_CapitalUpdated 0
chinese yuan daily technical analysis ( CNYUSD )chinese yuan daily technical analysis ( CNYUSD )by ghotby2