Which is about to happen. China will devalue when needed, as needed. Japan needs the yen down to validate all the QE lately. Pound going to parity with dollar sooner than later. etc. and if inventory build is more than expected. look out below.
I thought I saw this before, and now I see it. The next move could very well be a cny devalue, which would snap dollar up, markets down, oil down. Megaphone patterns repeat? spx500 retrace .5 or more? RSI TL support reached . IMO.
If this game was baseball, three strikes would mean you're out. Could this be the start of a third wave of devaluation in the Chinese Yuan? Each time the Chinese Yuan devalues it just happens to coincide with a massive selloff in the SPX. 2015 was the first time that China reduced its stake in Treasuries on an annual basis in an attempt to support the yuan and...
I recently read an article of Reuters explaining that the recent rise in $BTCUSD has the $CNYUSD sell off to thank. www.reuters.com But out of curiosity, I wonder what percentage of the $BTCUSD rally was caused by Chinese traders buying into Bitcoin. After all, most Chinese DON'T invest their money into the market. Perhaps the $BTCUSD rally is caused by traders...
The offshore RMB is the orange line. As you can see, the history is too short, so the main USDCNY chart is shown.
Yuan devaluation has been significantly correlated to global market corrections. Let's see if there is a new one coming.. Probably soon... poop
Markets appeared to have changed their tune regarding Fed interest rate outlook after US data released on Friday showed retail sales in April jumped by most in a year. Even before the data release, a significant minority was expecting Fed to move rates in June/September if wage price inflation strengthens. The week ahead is a busy one for the markets as US CPI...
This is for those of you who are trading USDCNY. It's hard to trade something as protected as USDCNY, but know that given a long enough time period, nothing escapes triangular geometry.
see chart and how this bottom effects the equity markets.
#ltc on long support, #btc beginning 3rd wave, #btce alts accumulating. omg! moon!
Haven't posted in a while. Just really don't like it when I am wrong, admit it, and get rude and insulting comments from guys like Fibline, etc. Posting charts is sharing wealth and info in the pursuit of wealth, and sometimes the pain of losses that come with trading. At first I decided jerks like Fibline don't deserve my info. But then, why let one person or...