It appears that the Chinese Yuan is to devalue (much) more. Fundamentally, the Chinese governement is coming up with countermeasures to offset the effects of the SARS-CoV-2 virus outbreak; which has also disrupted global trade activities. Technically, the USDCNH chart is on the verge of a break out, with MACD and OBV poised for support. Target for USDCNH is 7.15...
The main event of the previous week was not a meeting of the Bank of England or even a decision of the Fed (both the Central Banks left monetary policy parameters unchanged). This is not data on US GDP (annual growth rates have been the weakest since 2016: 2.3% in 2019 compared to 2.9% in 2018), but the coronavirus epidemic in China. Yes, so far the epidemic has...
Coronavirus has damaged financial markets of China. Chinees stock droped almost 7%, economic grow with 2%. Of course Chinees yuan planged after market open today, now trading at 7.0202, next target 7.0719
Risk overall continues to ebb and flow on US-China trade uncertainty and looks somewhat asymmetric, tilted to the downside, based on our view that the HK Bill if passed through the House of Reps could seriously complicate trade talks and the signing of Phase 1. Stock markets are on the rise, and the risk-on atmosphere is weighing on USD, JPY and gold. Last week...
In today’s #marketinsights video recording, I talk about #Fed's rate cut and identify the main components leading to their decision. I also talk about their decision toolbox and wonder whether they should start looking at slowing inflation with a different eye? One that doesn't look at trade wars with such certainty. With Fed, BOC and now also BOJ out, we can't...
With US and China likely to have found a temporary truce in their Trade War till the APEC meeting in Nov, and USDCNH trading into the daily Ichimoku cloud, the time to re-visit a short in USDCNH may soon be at hand!
The pair is currently pulling back after an annual high earlier this month with 1D already having turned neutral (RSI = 52.349, MACD = 0.019, Highs/Lows = -0.0174). This appears though to be only a technical Higher High retrace after what has been a very strong bullish sequence since mid April. We have spotted the very same pattern in 2014/2015 when USDCNY made...
Hello traders. Wait for the next daily candle to trade up through today's high and confirm the swing low. Target resistance Good luck traders.
>7.20 ? USD may survive til end of year. Pullback looking more likely
The Australian dollar bounced off its lows today in the forex markets, although the Reserve Bank of Australia hinted at negative rates. In a similar manner, the New Zealand dollar perked up as firmer-than-expected Chinese yuan fixing boosted risk sentiment. The two currencies typically serve as liquid proxies for traders to hedge against emerging market risks....
View On USD/CNH (27 May 2019) We can see that it has hit decent strong resistant region of (6.9 to 6.95) and it make take a pullback for now. So, it can make a pullback to 6.88 to 6.86. So, do not aggressively go LONG at this moment. All the best. DYODD, Our trade analysis may not suitable to intraday (or) short time frame trading. Whatever method you...
The buy was off that 200 at break and test of flag. Considering the larger pattern, this does have the potential to break the high of the larger structure before any huge drop. So keep that in mind. And watch out for a smaller correction here possible.
The ERUCNY pair seems to be making a retracement after the run-up that started in June and lasted until September 2018. I will be trading this unleveraged. I am just buying and holding Chinese Yuan without using a broker that lends me money to leverage my bet. Target 1 is at the 50% retracement of the June-September move. Target 2 at the 68% and target 3 at the74%...
This pairing has been unable to break above the $7 dollar resistance - rejected in Dec 16' and again in Oct 18'. I will be looking at a short position after technical and fundamental factors have lined up in favour of this direction. The US Mid-term elections have softened the dollar rally that began just before summer 2018. However, I will not be opening any...
Price is coming to key sell zone 6,9871, Last time the price was near that level year ago. There is a big probability that price will bounce down from 6,9871 because in 80% situations currency rate bounce from such levels. I will open a Sell if the price will make a fake broke 6,9871 and D1 close under it. Push like and Subscribe, if this post will get 50...
=> FED minutes today will likely push USD higher on the knee jerk however devaluation against the CNH is likely. => Here with a helping hand from a strong earnings season we are set for a risk correction. => A sell into strength strategy remains warranted for CNH as the bear flattening of the US yield curve does not bode well for leverage. => Good luck to all of...
=> Market turmoil is creating its own negative feedback loops for China driving further tightening financial conditions that will last and have further effects on the economic growth in the region. => It seems unlikely to open the floodgates to a recession so far however further trade tensions between the US and China will add to fragility. => Targets in Chinese...