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US Dollar/Chinese Yuan

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USDCNH trade ideas

US dollar continues to grind higher against YuanThe US dollar continues to rally against the Chinese Yuan, grinding higher and above the 7.00 CNH level. The market has recently seen the 200 day EMA level as support and bounce quite nicely from there. By doing so, we have attacked the 50 day EMA, but have not broken above it yet. If we can close above there on a daily chart, then it becomes a very bullish sign. Overall, that could send the market looking towards the 7.15 CNH level, but it’s going to take some time to get there. Keep in mind that this pair is essentially “Ground Zero” when it comes to the US/China trade war, and as a result it will go up and down based upon whether or not there is some type of an agreement. This pair will literally go back and forth based upon whether or not people feel good about the deal or not. Recently, there has been a bit of a grind higher, and that suggest that perhaps people are a bit cautious and therefore buying the US dollar. Despite what some politicians in the United States will tell you, the Chinese do not want the currency pair to go too much higher, because most of their debt is denominated in US dollars. In other words, the higher this market goes, the more dangerous their debt becomes. As it rises, it is a sign that people are becoming more and more concerned, and if you do not trade this market, it should be thought of as a barometer on risk appetite. If this pair rises, quite often it means trouble in other risky assets around the world. This is something that unfortunately retail traders don’t pay much attention to, so it gives you a bit of a “leg up” on how the world is feeling about this US/China situation. That being said, it does make a nice longer-term market, and closing above that 50 day EMA, offers a significant move higher.
by Forex4you
Dollar continues recovery against the Chinese YuanThe US dollar has rallied a bit during the trading session on Friday, as we continue to see the US dollar pick up steam against the Chinese Yuan. A lot of this is going to come down to the US/China trade deal, and although we have had a significant pullback as of late, you can see that the market has bounce from the 200 day EMA. We are currently testing the 50 day EMA, which of course is a moving average that when tested should show some type of resiliency. We ended up forming a shooting star on Thursday, but it looks as if the market is going to try to break above there, which of course would be a very bullish sign. If we continue to see a lot of the Dragon on the US/China trade deal, it’s possible that this market will continue to go higher. What’s noteworthy at the moment is that the market is now comfortable around the 7.00 level, so ultimately it looks as if the market will try to find some type of support underneath. At this point, the market should then go looking towards the 7.16 level again, as it was the most recent high. Ultimately, the market continues to see a lot of back and forth in this general vicinity, but I recognize that the uptrend is longer-term, so therefore should not be traded against. The pullback has been exactly what this uptrend needed, and now it’s only a matter of time of picking up a bit of momentum in order to go further. Expect erratic and choppy behavior, but that’s nothing new in this pair. You have to look at the longer-term attitude in order to gauge as to where you should be trading this market and in what direction. It remains bullish, despite the recent pullback.
Long
by Forex4you
USDCNH 10/11/2019Hello Traders! Witaj! We play with Smartmoney concepts, that means that we focus mostly on price action to determine what will happen in future. As we all know, price is moved by BIG players: Banks, Institutional traders, HFT bots (we call them all of them SmartMoney). They can't play as we do, cause of a HUGE lot sizes, so cause of that they need to SELL to BUY and BUY to SELL for positioning them self in the best possible spot. If u were learn about trading from free and accessible knowledge, u probably heard about BUYing LOW and SELLing HIGH? So SmartMoney must BUY LOWER and SELL HIGHER :) We as retail traders are just a small fish in this ocean, so we need to catch the waves which are created by SmartMoney. Don't forget to like if it was helpful to you. We appreciate likes and comments. Jesli podobal Ci sie material zostaw like:) Masz pytania - pisz smialo :) Thank you, Dzieki za uwage :) GOD BLESS U ALL!
by Snipers-Academy
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