if the price below at 6,4570 position must be short..short target is at 6,4150-6,3570..
The important thing when the price going to go at 6,3570-6,4150 area position will be long..price target at 6,65-6,70..
Lets try it..
if the price below at 6,4570 position must be short..short target is at 6,4150-6,3570..
The important thing when the price going to go at 6,3570-6,4150 area position will be long..price target at 6,65-6,70..
Lets try it..
Hi Traders,
In the last few days I couldn´t post new tradng ideas because I´m working on launch of a new FX fund from Switzerland.
It caught to my attention the pair USDCNY , we might have reached a critical key level for chinese authorities. As a reminder USDCNY is not trading freely .
I´m positioned long for the pair while above 6.50
Happy...
From the monthly chart in Mar., the price formed a doji within a tight price range between 6.6-6.45. My bias is to keep bullish on US dollar against RMB, but short-term consolidation within 6.6-6.45 range is necessary to breakout 6.6 level.
This is a rising pattern with momentum to the upside because of the same pattern repeating again. First let me explain this pattern.
This is a breakout to the upside pattern because the downtrend always gets rejected upon intersecting the curve be either in the form of flat, failed descending wedge or failed descending triangle. This pattern is generally...
We have been watching the volatility for the Yuan/Renminbi as a signal of the market pressure levied on Chinese officials. However, that is only one stress point for the financial-economic balance the government is trying to strike. Another FX outlet is the HKD which is the gateway for much of the capital flow into and out of China. And, where USDCNY may have...
The Yuan and Yen are effecting everything. Asian markets down, Oil down, but US futures and Europe up? Why? The Yuan strength and Yen weakness. But usdcny is about done its move, oversold, so we see rsi at TL, and price.
China.
It's been in the media?
It's being painted as the bad guy! Well unlike Kim Jong Un Dropping H-Bombs
China will drop some more bombs in the future but it will be devaluaing the Yuan
Yuan is now in the SDR and many countries are going to start adopting more and more.
We see a devaluation to 6.8 maybe slightly further until you will see the yuan gain...
We have a conservative long setup for USDCNY.
We expect that USDCNY will reach 6.8 in early 2017.
Target: 6.82 - 6.83
Entry Limit: 6.40
Stop Loss: 6.26
