USDCNH: Potential long term top

FX:USDCNH   U.S. Dollar/Chinese Yuan
With oil             rallying, and China soon to be accepted by the IMF, to include the Yuan in the SDR             currency basket, the technicals in this chart suddenly look very good to me.
You could go short here, with stops above yesterday's high to begin with. The currencies not affected by today's fear spike due to Deutsche Bank's shock were: the Euro             (surprisingly!), XAU , XAG             , CHF, CNH             , so, we know these are relatively stronger (same as oil             and other commodities ).

Good luck,

Ivan Labrie.
Comment: http://www.bloomberg.com/news/articles/2016-10-01/chinese-yuan-s-ascent-to-global-reserve-status-a-timeline
Trade closed manually: It isn't acting well, probably the PBOC at work here. Better stand aside, but keep an eye on it.
Hola amigo! And last time during long holidays in Sep the liquidity was bad for CNH and banks sold USD to get CNH. So on Monday another long week for RMB holidays and it can again press the dollar down.
Yes, I'm inclined to think that is the case, but I don't like the price action today.
We will have to wait and see.
Ivan, the chart looks good, so does this means CNY will be higher after 1st October 2016 ?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out