Tom_Killick
Long

#USDCNH: Post Correction, Bulls In For Continuation Move!

FX:USDCNH   U.S. Dollar/Chinese Yuan
57 1 11
Traders, really good opportunity to get into this pair!

Fantastic opportunity to go long on this set up. There is some extremely bullish candlesticks at the bottom of the range, at a major Fibonacci confluence support and the 50 moving average , suggesting we have hit a MAJOR hidden support. The candlesticks at the bottom of the range speak for themselves, there is lots of buying pressure at this level. Expecting some very nice upside here.

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Victor.Y.F
3 months ago
Thank you Tom! I have the same view with you. We now have the first round of RMB devaluation for 1 year by PBOC. The CPI from China is dropping so they have to do something for pushing inflation up. The second round is coming. I think it's a plan of QE purchasing bunds because RMB rates cutting is limited. China 10 years bonds yield has big space going down even BOJ is interesting in buying them but needing a tax negotiation before BOJ steps in.
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