USDCNH: Interesting intermediate and long term signals

FX:USDCNH   U.S. Dollar/Chinese Yuan
In this thread I'll study the relationship between the offshore yuan and other FX pairs.
We have two signals here, a monthly one aiming at 6.72254, to be reached before August 2016, and a daily one pointing to a very vicious decline towards 6.23893.

What's interesting here is that usdcnh             seems to be a good leading indicator to trade the Aussie dollar and other Asian theater currencies, naturally. I choose AUDUSD             because it's the highest liquidity one and it's part of my portfolio, but do your due diligence with this phenomenon.

As for the Yuan, in the long term, it's probable to see continued devaluation of it, and an uptrend in the USDCNH             and USDCNY             pairs, for fundamental and technical reasons, unless there is a very significant paradigm shift that changes the macroeconomic dynamics at play.
This projected selloff in the USDCNH             should serve as both an interesting speculative play, and a good opportunity for individuals seeking to convert their Yuan for Dollars or other currencies as a risk off measure.

Good luck sailing this volatile waters             , this is a great time to be a trader, so, don't pass on the opportunities that will arise in the coming days.


Ivan Labrie.
Comment: Working beautifully so far, but might expire and turn into a long soon.
Trade closed manually: Downtrend failure.
Trade closed: target reached
Comment: Long term uptrend time has expired, we could go back down to the mode.
Unless USDCNH really takes a massive dive, I think we will get a time at mode failure long out of it.
IvanLabrie PRO NickCoulby
A very Chinese number too! :)
NickCoulby IvanLabrie
it's a sign of good luck.. beautiful women are coming your way lookout
usdcnh lagging a bit here...might start dropping today.

EURUSD showing a similar pattern now, anti-correlating...very interesting. I also want to long eurusd after a steep retracement, so this must be a big move coming, accross all markets.
IvanLabrie PRO IvanLabrie
Di Zhong IvanLabrie
+1 Reply
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