There is a reversal H'N'S pattern is in the making. Watch breakdown of the Neckline. Target is set at the distance of the height subtracted form the Neckline. Invalidation is above the Head of 7.1959
long here with stop as shown - 15 minute strong candle to resistance likely to break out and up ! :smiley:
The pair took a pause before another rally and this could mean the bad news for the global trade.
Onshore/Offshore RMB (CNYCNH) spiked above 1.017 since late 2015 and early 2016, suggesting that capital is leaving Mainland China.
High positive BTCUSD - CNHUSD correlation in short term. Beggining to fade or suffering a temporary disconnection. Also of note, CNH was leading, now it shifted and BTC seems to be leading CNH. based on idea from @martinlukeaof twitter.com
Here we are coming to the end of the corrective wave within the underlying bull trend. The time has come to start getting to work on the top-side here again, this is a move we have been tracking for some months (see attached). We are going to be exploring the speed limit of the dollar over the next few months so buckle up and get ready for some very large moves...
Recovery from the 2019 May dip in global equities markets from the hard work of Communists (current and ex)... ? China equities and the Chinese government actions on the Chinese yuan ( CNY ). Russian equities and the Russian ruble (RUB). And also JPY and Gold.
And wait for moon. Here's the quarterly chart: Wow.
What happened last time...: Clearly, we hit a very strong support... What's this? It's a Bird...It's a Plane... NO! It's the Chinese Renminbi making a double bottom on the monthly chart! And a higher LOW! WOW! The US are turning socialist and the FED have DESTROYED the us dollar. It is getting abandonned. China is becoming a TITAN and the Yuan is a new...
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Looks like China's on the move by devaluing their currency against the dollar. This looks to me to be further escalation. Bloody Friday in US equity markets tomorrow?
The pair is in a consolidation, which looks like a triangle. It will shoot up and could reach 7 handle.
price looks like its bottomed out on the weekly. An ema bust would definitely confirm bull trend again. Looks good for at least a measured move up. Could be more but can't tell yet.
With large account deficits, disinflation and widening interest rate differentials there are many reasons to not be bullish China. Whilst on the political side there is a desperate need to keep CNY stable and stronger because China needs to attract capital inflows for the second half of 2019. Why? Because they are trying to facilitate the process of...