Measured move shows the previous wave cycle was corrective, making the next cycle the impulsive wave.
*Since Yuan was introduced since 1955, there no use for making upward measured move target with incomplete data.
Fundamentals// that China is not willing to keep print money like before+ US printing $$$
Chinese economy recovering strongly should benefit the AUD in the longer run, and once Abe’s successor is elected, BoJ’s ultra-easy monetary policy will likely be reaffirmed — paving the way for eventual JPY weakness.
AUDJPY has closed above the weekly Ichimoku cloud and broken above resistance at 0.7680–0.7700 convincingly. Buy on dips for a test above 0.8000...
Hope everyone OK !
Some analysis on the Chinese $ETH , $NEO is becoming more communicative on their new DeFi projects with NEO3.
Some a technical point of view, there is a really good signal at the moment wiht this set up : Price above Cloud , Tenkan & Kijun following the new trend & finally the Laggin Span pumping out of the cloud on the Daily.
When NYSE:BABA closes significantly above the green rectangle area (Significantly above the 201.5) , I think it would very likely to continue up to around the 209-210 area (Around first blue line) , with a potential to reach the 219-220 level (second blue line) , depending on how price would act around the 209-210 area .
On the technicals there is little to update while the resistance holds, despite the bounce via PBOC intervention on coronavirus risk flows. The only level in play to the topside is 7.0248 as it caps the highs in the current wave. Anything above will unlock a leg towards the next barrier at 7.0733.
A good time to update the CNY chart with US away from their desks for thanksgiving. Both sides rolling back tariffs means that CNY has unlocked the gates for a retrace towards the key 76.4%.
On the monetary side, updates from PBOC who continue sitting on the bid and are unlikely to change stance and keep CNY strong against the crosses, and as long as this...
On the smaller time frame, NEO has made a double bottom in its descending channel. This could potentially send it up to the higher part of the channel to eventually complete its bull flag by breaking through resistance and finally meeting around the .0017 barrier. Volume is increasing (more noticeable on higher time frames). Keep in mind a double bottom on a...
Is the Asuka prophecy still in play?
In my video we look at the historic accuracy of the Asuka Prophecy as time is running out for the latest prediction. this one is getting interesting though as the chinese president gives a green light to crypto and Edward Snowden tweets the smug asuka used in the prophetic post from 4chans /biz/
Currently we'd need more than...
Clear ascending triangle in formation ready to make the breakout in the coming weeks.
We have already set the alert that will alert us in case the level 70.00 will be broken.