#FOREX #USDCNH
As you remember, I wrote that it is time for China to intervene, as our trading system signals a turning point-vibration. The trading system and knowledge of economic processes and dialectical contradictions once again anticipates what will happen in reality a little later.
Bottom line: the price went slightly above the indicated zone with a squeeze. However, the People's Bank of China has started to make verbal interventions so far, as expected:
🇨🇳 The Central Bank of China carried out verbal interventions in the CNY, warning speculators that they will lose money in the long run if they continue to bet against the CNY;
China's state-owned banks have been told to brace for CNY intervention - RTRS;
Yuan is unlikely to continue rapid decline - Chinese state Securities Times;
Where this will lead next: the intervention of the Central Bank of the PRC de facto and their transition to more aggressive rhetoric without any euphemisms. Process started. I still expect an escalation in Taiwan and the South China Sea.
As you remember, I wrote that it is time for China to intervene, as our trading system signals a turning point-vibration. The trading system and knowledge of economic processes and dialectical contradictions once again anticipates what will happen in reality a little later.
Bottom line: the price went slightly above the indicated zone with a squeeze. However, the People's Bank of China has started to make verbal interventions so far, as expected:
🇨🇳 The Central Bank of China carried out verbal interventions in the CNY, warning speculators that they will lose money in the long run if they continue to bet against the CNY;
China's state-owned banks have been told to brace for CNY intervention - RTRS;
Yuan is unlikely to continue rapid decline - Chinese state Securities Times;
Where this will lead next: the intervention of the Central Bank of the PRC de facto and their transition to more aggressive rhetoric without any euphemisms. Process started. I still expect an escalation in Taiwan and the South China Sea.