So I will be traveling to China for the upcoming June holidays and would need some hard currency (RMB). From the chart, we can see in Nov last year, it breaks above nicely only to see it falters back to the 5.10 price range ......... Will history repeats itself ? I don't know but if you put a knife on my neck and force me to make a wild guess, I would lean...
Hello everyone. It's been almost 11 months since I posted the idea titled 'Bearish view on SGDCNH(potential low 4.63)'. You can refer to the linked idea below. Yep, I'm right about the direction and move. SGDCNH fell sharply by move then 2000bps since I published the idea. I can see the downtrend line is still well respected. Price seems to be consolidated for a...
First of all, I published a bearish view on SGDCNH on Jan. end. The pair rebounded from 4.84 to hit my daily supply zone around 4.89, followed by a series of bearish candles. Now the price is around 4.835ish. It's coming towards the previous low and very likely to break this level. It's a momentum play and my idea was based on the long wick candle on weekly....
The reason I like to review the pair is that I've in SG for 8 years. It's my second home. Most importantly I have SGD deposited in the local bank. Personally, I prefer to strong SGD. The reality is harsh. I don't know what happened on Jan. 8th. But the long lower wick really opened the downside space. The potential low is 4.63(measured move). Singapore got hit...
Technical analysis : 1. price is approaching the year low level of 4.8627, buyers might get in at this level 2. Divergence between RSI and price is the indication that rebound will happen soon. We just don't know when. Fundamental analysis : 1. Singapore is a small country. I lived there for 8 years and almost everything needs to be imported. So the government...
With large account deficits, disinflation and widening interest rate differentials there are many reasons to not be bullish China. Whilst on the political side there is a desperate need to keep CNY stable and stronger because China needs to attract capital inflows for the second half of 2019. Why? Because they are trying to facilitate the process of...
After breaking out 3 times, first in March this year from the 61.8 FIB level, the SGDCNH pair seems to be suffering from the winter chill of China. It is resisted once again at the 61.8 FIB level. Not once, but again 3 times. This is good for me as I return to China each year in June. The higher it goes, the more yuan I get and that increases my purchasing power...
This is a currency pair that I hold close to my heart. As someone who travels to Shenzhen china almost monthly, I am pretty interested to put what I learn into good use to gain an advantage in life. I change SGD to CNH every single month. Keeping this post short, I am expecting SGDCNH to go down to 4.7 before rebounding. For those of you who are planning to...