Not sure what's going on here but you would think stocks wouldn't be at the level they are now.
The Chinese Yuan has quietly moved to multi-year lows with seemingly little fanfare. The growing stress within Chian's over-leveraged banking system, and continued capital flight (www.wsj.com) suggests the pressure on China's currency will continue. The last two times the currency weakened significantly were August 2015 and January-February 2016- not good times...
Dollar Yuan formed a nice double top during the month of July confirming the substantial bearish macd divergence we're seeing on the daily. After forming our high at the double top we dropped down to support forming a lower low, and have now pulled back to the .5 and .618 fib retrace, forming a lower high along with a beautiful right shoulder within the daily...
Pair is reaching a resistance level. I'm playing the area to catch a bounce or pivot level. Depends how price reacts off level. If area break, I'll be looking for the pair to head higher.
USDCNH is a very interesting pair right now. In this chart you can see a few instruments, pitted against each other. Currently, talking currencies, the offshore yuan is lagging the group, compared to the other dollar pairs on chart, and it happens to have a weekly time at mode downtrend signal, which confirmed last week on close, which gives us targets of 6.37 and...
Hello Traders, Following the theme of this weeks chart. Here is another Wolfe Wave that is underway on the hourly time frame in the US Dollar Chinese Yuan Pair. Look for an exit at the 1-4 Line
I think that either one of the two price movements are completely viable. The blue line is the 0.786 and 1.272 confluence region, so if you want to enter based on the confluence then short this now since it has already reached this area a few days ago. Alternatively, if you would prefer to rely on the market meeting the 0.786 retracement as an entrance point,...
Here The Pretty Nice Setup To Hunt The Arbitrage Opportunities On Chinese YUAN.
Overall trend is down and macd is showing overbought on almost every CNH pair. I think we can get it to at least half way to the TP and put on a trail to lock in 1:1.5 RR. CNH pairs always take a while to move so I expect this to take longer than usual to pan out (2 days vs 1 day).
The term 'currency manipulator' should be useful for the US again to label China ;) Who will win this devaluation war? Absolutely no one when everyone is devaluaing their currency, and even US will probably not raise rates during December.
China and Japan may be the economic giants of Asia and the world, but the behavior of their currencies would indicate otherwise. Since August 2012, the Chinese yuan strengthened and the Japanese yen weakened considerably. The yuan trades at record highs against the yen. Given the negative impact of a strong currency on exports, China should seek to weaken its...