bearish rising wedge looks ready to break for a large move down in USDCNH. This aligns with DXY topping out, the next few weeks should be interesting for this pair. Strong resistance was not able to be held on the daily and weekly ending 3/08.
I posted before this big move up in USDCHN that I was long, it is now entering a reversal. see here
Some insight: There are many interesting things aligning at the moment. Silver has had a double bottom on the monthly line and a strong bounce on 3/08 - please see my other post. USD is topping out. US Bond yields look to make a big move upwards. I believe this is all linked. In my last analysis of USDCNH I mentioned that China is a big bond holder of US notes and they would not want the Yuan to appreciate. My GUESS now is that China is getting ready to dump it's short bonds and selling those dollars and buying cheaper Yuan before letting the Yuan appreciate (parabolic move). This will be the retaliation on US for the trade-wars. this could set off a crisis, commodities will go upwards strongly also.
I posted before this big move up in USDCHN that I was long, it is now entering a reversal. see here
Some insight: There are many interesting things aligning at the moment. Silver has had a double bottom on the monthly line and a strong bounce on 3/08 - please see my other post. USD is topping out. US Bond yields look to make a big move upwards. I believe this is all linked. In my last analysis of USDCNH I mentioned that China is a big bond holder of US notes and they would not want the Yuan to appreciate. My GUESS now is that China is getting ready to dump it's short bonds and selling those dollars and buying cheaper Yuan before letting the Yuan appreciate (parabolic move). This will be the retaliation on US for the trade-wars. this could set off a crisis, commodities will go upwards strongly also.