I am investigating the extent to which USD/CNY is an indicator of future USD moves across the Majors.
First, notice on the chart how well Price-Action and Elliot Wave concepts apply to USD/CNY.
The levels of polarity chance sit right on the Fionacci retracements.
The Breakout Aug 2022, in (A), follows the description of a breakout (Pre-Breakout PA) to...
FX_IDC:USDCNY
Keep moving.
As what the post told last week,
the downside trend has stopped,
USD is showing strength against CNY.
-- Summary --
Total Closed Trades 34
Winning rate 76.47%
Use backtesting to evaluate and make objective trading decisions.
Gluck. Please do risk control.
#forex #USD #CNY #trading #backtesting
Spot the 4 patterns. With Dollar Index (DXY) plotted below for comparison.
It's a shame the USD/CNY can't serve as a leading indicator for USD-pairs, but its analysis shows you WHEN to enter the USD-market, long or short, and catch the big waves.
The most notable are the periods of sideways trading. Looking at USD/CNY, those are really calm and composed, while...
FX_IDC:USDCNY
USD is showing strength against CNY, and the downside trend has stopped.
-- Summary --
Total Closed Trades 34
Winning rate 76.47%
Use backtesting to evaluate and make objective trading decisions.
Gluck. Please do risk control.
#forex #USD #CNY #trading #backtesting
The forecast that will probably come true not in 10 years, but this year, the yuan will begin to become the world's currency. Currently it only accounts for a few percent of world trade, but it will account for tens of percent.
In this scenario China must stop devaluing the currency to please its exporters and overseas partners. Create an infrastructure parallel...
All information prices in. Strong down trend. The economics of China because of its policies and rampant covid in China issues.
Until something changes, I see no change in the trend.
What is the Environmental, Social, and Governance effect of 400,000+ excess deaths a day over a month? Internal Chinese government documents suggest over 250 million cases in the first three weeks, across the country in December after COVID-zero protocols were disbanded from increasing social unrest. Others suggest a sitting average across two weeks at 37 million...
This chart pattern is a bearish ascending broadening wedge. The text book target price for this pattern would be down about 13% from current levels at 6.05.
A month ago we called the top on the USDCNY:
With the price breaking below Fibonacci 4.0, the pair has basically called for an extension of November's downtrend. This will be confirmed if the price fails to close the week above the 1D MA50 (blue trend-line).
As you see, on a sample dating back to January 2017, every time the price failed to close above the...
The USDCNY pair has been on a very strong rise since it got detached from the 1D MA50 (blue trend-line) on August 11. The bullish channel resembles that of mid April - mid May, which topped on its 6.0 Fibonacci extension from its previous Support. The RSI is printing a similar sequence that was just before that top.
As a result it is a possibility that the pair...
Neither Russia, Ukraine nor NATO will be the Champion of the current special military operation in Ukraine, The Chinese Communist Party Gains leverage each day the conflict persists. in 2021 China was the United States #1 trading partner based on import value, it is also the Russian federations #1 ally. Whatever outcome of the Ukrainian conflict the Chinese...
during the fight between china and taiwan
I think the war is happen between them and america making the same thing like what happen to russia
and china then using Yuan instead of Dollar
Looking at the CNY and its highest probable and most immediate index levels that we can theorize and speculate (using fundamentals and reason) the currency reaching in the seemingly distant future.
This is one, if not the most fascinating markets and charted data I have ever studied.
As the most powerful and fastest growing economy on earth, market performance...
Check out my most recent publishing(s) referring to this particular exchange rate in the "Related Ideas" section below if your interested in the USDCNY.
I took a closer look at my in-depth analysis over the weekend and felt as though it needed some adjustments (additions*) + further complication..
but its for the better.. hear me out.
Ive been spending the...
- Dollar stays bullish of the incoming 75/100 BPS rate hike.
- China GDP Q2 0.4% growth, below forecasted growth.
- China's exports continue to fall from the fall in demand globally.
- We are looking at USDCNY possibly going back to 7.
