Summary: The USD has weakened across the board and US long yields have risen to their highest level since June, unlike yield developments elsewhere. The strength in the Chinese renminbi needs a closer look as the fall in USDCNY accelerates, and the JPY is suddenly waking up this morning as USDJPY slips back below 105.00. Elsewhere, sterling complacency is...
AUD/USD continues to recover and has made back the losses from the outside day to the downside on Thursday,
Bulls have to break above 0.7180 resistance to travel to 0.7220 and ultimately to 0.7300 to the upside.
Support is at 0.7150, 0.7120 and 0.7100 figure.
Was that the top in USD/CNH? Traders should not make a living or hobby out of calling major reversals in a market, but when a combination of developments arise that signals the tides may be turning, they also shouldn’t have their head in the sand.
While many people were looking to the sell-off in the Turkish Lira and the South African Rand, the turn around on a...
There are links between bitcoin and Chinese capital outflows and the control thereof and currency relations / controls of Chinese currency. The relationship is highlighted with the comparison of the prices of BTCUSD (light blue area ) and USDCNH ( Dark blue line ).
This is useful in helping to form an idea of which direction the BTC may take. Currently there is...
USD/CNH- 08 Sept. 2016
1 hour chart for daily entries
All S/R levels has power to reverse the trade,
but once broken with a closing candle
Support will become Resist, and Resist will become Support.
Only trade when levels are touch for the first time with a 15min engulfing candle to confirm the reverse.
Do Not chase price, let the price come to the S/R levels...