China lever: controlling the yield spread between yuan and US dollar. In the last 10 years, everytime China central banks (1) holds down the yield spread rate, (2) holds the yield spread underwater 1.25%, then that would be a strong indication of the near future the CNY will be weakened. Currency: In this chart we predict the CNY will goes devaluate in the next...
USDCNY's downtrend accelerated earlier today following the release of the surprising crunch in China's trade surplus, underpinning falling global demand. The downtrend is taking the form of a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Seeing as how the price action is currently in the process of developing the final impulse leg (4-5), a...
This is the last Carnival of the RMB super bear market. It will appreciate by about 3.6%, and then it will open and fall with great momentum. It will eventually fall below 9 yuan. Of course, it was hard to say that there would not be RMB at that time.
The price action of the USDCNY continues to be developing a major 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Given the declining bearish momentum in the short term, as underpinned by the MACD indicator, a pullback to the 61.8 per cent Fibonacci retracement level at 6.4156 is likely to ensue next. This would serve as the second...
Based on simple S & R, I can see dollar strength is weakening and this week no movements at all even DXY is keep rally up. Somehow showing CNY is withstand strongly against the dollar strength. Something is brewing up on tomorrow NFP
The currency pair of the Chinese Yuan against the US Dollar has started to rise by 3 points between the support line 0.1551 and the resistance line 0.1554, and this is an identical reaction to the continuation pattern of the ascending triangle. On the other hand, the Chinese Yuan may reverse its trend and start decline against the rise of the US Dollar; due to the...
The price action of the USDCNY pair has been range-trading since the 16th of July, as underpinned by the ADX indicator. Bearish pressure has been slowly accumulating over the same period, which is illustrated by the current reading of the Stochastic RSI indicator. The price action is likely to reach a new dip at the 23.6 per cent Fibonacci retracement level,...
Won't be a pretty place for us Americans in the coming decade. They're getting serious about Taiwan after taking HK - also, looks to break below this line. For something so manipulated, there's finally some pattern & reason. I've visited China twice; I absolutely love the country and her people to bits and pieces. Obviously don't agree with what the CCP is doing,...
We are BULLISH on a break above top trendline so entry1 will be on a break above the top trend line that is buy when the price Breaks above while for holders or risk free traders sl below t.p above Not an advice Share Thanks for reading GOOD LUCK TRADERS
Im bullish on CNY i expect the CNY to make new highs when it breaks the trend line. will go sub 6 USD.
1. Head and Shoulders pattern 2. MA's + PA show a bottoming pattern 3. China will devalue the Yuan (Remnimbi) 4. Dollar $DXY will go over 106 5. Gold $XAUUSD will go below $1,500 oz. 6. Silvere $XAGUSD will go below $15 oz.
Put the buylimit order on the top hedge of the zone I showed and set a stop loss in the lower hedge. Do riskfree 👍
The price of USDCNY is establishing a new downtrend. It is structured as a 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. After having broken down below the 38.2 per cent Fibonacci retracement level, the price action is currently testing the lower limit of the Triangle. If it manages to break down below it as well, then the price action would...
Main structure bearish minor BULLISH take note that's all I can say Like Share follow up and comment Thumbs up if you like the idea or found it mildly interesting It's Not a trading Advice Note always check out your own research before opening any position take note
Usd has got some direction trend up due to dollar demand
Big support at 6.46 for USD vs Chinese Remimbi POCs: 1 month 3 months 6 months 12 months
The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020. The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish...
Hit a double bottom and broke out of a descending triangle. Was expecting a triple bottom at least. Did not anticipate this move happening so soon as you can see by my purple arrow. expecting 7% gains.