The last sideways consolidation shaped the notorious Triangle pattern in wave B as a junction of waves A and C of this big correction. The drop could hit the area of 6.73 as market thinks about the deeper retracement lately. Its all about the uncertainty of US-China relations and players tread the water to take their time.
End of correction. Catch the drop Entry now (1.2790) Stop 6.2967 Target 6.2358
One of market wizards once told that to find the trend we should squeeze the chart. Frankly speaking I thought USDCNY is in a correction before I squeezed the chart, the Monthly chart. The pair had a Mega GAP in 1994. It looks like we have an echo from that distant time in form of a downside impulse, which is filling the gap. We could be in the last large wave...
Not sure what's going on here but you would think stocks wouldn't be at the level they are now.
We have a potential breakout of considerable scale in the Aussie dollar chart. I'd highly reccomend entering longs if not in, you can risk either 3 times the daily ATR for the long term, or use Friday's low as your stop, more aggressively. The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not...
The offshore RMB is the orange line. As you can see, the history is too short, so the main USDCNY chart is shown.
This is for those of you who are trading USDCNY. It's hard to trade something as protected as USDCNY, but know that given a long enough time period, nothing escapes triangular geometry.
Here The Pretty Nice Setup To Hunt The Arbitrage Opportunities On Chinese YUAN.
China's central bank guided the yuan lower on Thursday FX_IDC:CNYUSD . China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move. This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend. Can...
China. It's been in the media? It's being painted as the bad guy! Well unlike Kim Jong Un Dropping H-Bombs China will drop some more bombs in the future but it will be devaluaing the Yuan Yuan is now in the SDR and many countries are going to start adopting more and more. We see a devaluation to 6.8 maybe slightly further until you will see the yuan gain...