USDCHF Valid Sell Signal
The price broke the long-term daily bullish trend line, which was the 2nd sign for a potential stronger bearish trend.
USDCNH SELL 6.92 - 6.95
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USDCHN has gapped up last monday. after two days of consolidation, today the exotic seems bullish and close to make a breakout to the upside. daily MACD is bullish and the 4H Stoch is making a bullish transition today. ALso, the price moved from the +3 Bollinger line to close to the mean line. That is common in consolidations. After the touch of the mid-line it...
this is my longtime view on USDCHN.
China sell a lot of USD bonds after the the start of the trade war.
This will push the USD down and make it more difficult to get money for the USA.
So be paitent and trade against USD.
Have a good trading week.
Your Stefan Forex
USDCHN has setup a low-volatility breakout, confirming a potential volatility expansion to come.
We have closed above the recent range and there is potential for a move towards 6.65.
This idea would be violated by a move back below 6.3530s.
Short Renminbi for last leg ( the last meal) Stupid is paying the price again and again.
Among those central banks, PBOC is the worst one. They're too old to realize the turning of the culture influence and the huge inflation will be there in the future. This is called NO "wen hua".
I have never shorted Renminbi before but NOT this time.
This is a clearly signal, BTW.
USDCNH looks very bearish in my opinion. We had a serious sell-off at the 6.986 handle, and I think we are due bearish continuation. This is a daily chart, so this is a longterm trade.
For those that follow bitcoin, it would be very interesting if we saw YUAN strength and BITCOIN weakness at the same time. :)