shown on the chart.
Here we can focus on the realms of reflationary risks that are around the corner, the struggle to shake out bulls is identical to the struggle we saw in 2016 which is reassuring, and for that reason our problem is reduced to a timing issue. For those tracking the previous diagrams in Gold it is obvious in USD terms both on the Weekly and Daily. Weekly: ...
In a nutshell, I am expecting Copper to keep Chinese Equities afloat and recover Q120 with less uncertainty via fiscal policy and a rebound in exports. For those following the latest Hang Seng / Copper chart: For the macro side, CNY will find a strong bid via trade tensions easing as we move into 2020 US elections. China's outlook for future generations is...
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...
FX Market Wobbly ahead of Trade War News The FX market is off to a soft start this week as traders await in silence new updates regarding the US-China trade war. Against the Japanese yen, the dollar was slightly higher at 108.81 yen. Against the euro, it was $1.1062, recovering from a monthly low of $1.0989 that came out on Thursday. Meanwhile, the British...
Dollar Firm on US-China Tariffs Rollback The dollar took a neutral stance on Monday, as traders awaited further updates on the US-China tariffs rollback. The dollar index, which gauges the buck’s strength against a basket of six major currencies, was little changed at $98.26. It was not far from a four-week low. Against the euro, the currency slightly moved at...
Chinese central bank currency coming out on the 11th of November.
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
Elections Lift the Canadian Loonie www.financebrokerage.com The Canadian loonie lifted when the country’s election results tilted to Justin Trudeau’s favor. The two-time Prime Minister won with a minority government on his second term. Elections normally mean uncertainty over each party’s proposed economic policies, but this year was different in Canada....
Dollars Move Slightly Ahead of Trade Talks After finding some support, dollars traded nearly flat on Tuesday. Investors in Asia are awaiting the results of the US-China trade talks in Washington later this week. The US dollar index last traded at 98.657, or 0.01% down from its last close. Meanwhile, against the CNY, the dollar dropped 0.3% to 7.1261. Over in...
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...
People should begin to take notice of the price of Bitcoin in Chinese Yuan. This chart looks a bit more bullish than priced in USD. I am looking for the price to break upwards starting around Sept 19th. It will probably grind its way up to 13,000 (USD) by end of Oct, come back to retest support, and blast through 13,800 (USD) by early-mid Dec. I am looking for...
The pair took a pause before another rally and this could mean the bad news for the global trade.
Hi, today we are going to talk about Yuan Renminbi and its current landscape. We have a Double Top Breakout on USD/CNY with Volume and could bring the Yuan Renminbi to a dramatic devaluation against the US Dollar. Trough this daily chart, we can observe that China's central bank - (PBOC) had to remove or loosen the grip on it, allowing the currency fluctuation...
Onshore/Offshore RMB (CNYCNH) spiked above 1.017 since late 2015 and early 2016, suggesting that capital is leaving Mainland China.
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....
As technically assumed there are two target areas for the pair. Even if there would be a pullback the proposed targets are consistent.