$USDCNH is at a nice resistance level. Multiple time frame pivots are aligned in this area. I expect the next pivots below to be hit.
As you can see USDCNH might have the last up wave to create a M-top , and I think Chinese government won't allow it pass 7.0, and if the up trend line break, we will first touch around 6.75
Sideways movement predicted for USDCNH till the end of 2017. Nothing to see here, move on to another pair. Fundamentals -CNY fixing (Higher swaps -> lesser short interest) (Authority looking to keep yuan stable. Volatile Yuan -> Bad for economy) -Fed Rate Decision (Yuan least affected by fed decision -> see capital flows for direction of currency) -Balance...
There are links between bitcoin and Chinese capital outflows and the control thereof and currency relations / controls of Chinese currency. The relationship is highlighted with the comparison of the prices of BTCUSD (light blue area ) and USDCNH ( Dark blue line ). This is useful in helping to form an idea of which direction the BTC may take. Currently there is...
More and more economic data is showing that Chinese nationals are sending money abroad. Currency reserves are getting depleted and the Bank of China is allowing the CNY mid-point band to move lower. I see a long term move up significantly higher in USD versus CNH. But, Chinese interest rates are high making a carry differential that favors CNH. Probably will...
All Eyes on the First Donald Trump and Xi Jinping Meeting Today Daily Technical Analysis Thursday, April 6, 2017 USDCNH - On the First Time, Donald Trump and Xi Jinping meets today. What do you expect for USDCNH market today? A further advance trend? The US economy has in good standing position after FOMC results. The US Initial Jobless claims report will be...
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The appreciation of Chinese Yuan against the US Dollars on the 3rd of January to 5th is a strong signal of a longer term strength of the CNH. The Yuan has been in a consolidation state since then, and is now trading near the upper band of the range. Short the pair using a market order with a stop-loss of 6.8866 with a Profit Target of 6.7200.
Bitcoin highly correlates with Dollar pair volatility these days, these are signs the market has matured a lot. Which makes sense since the CFTC considers it a commodity these days as more CFTC approved derivatives are on the way. US largest trading partner is China, any market correlation done on any asset if you ask me starts with capital flow from those areas,...
Suggests a pullback from here, but then new highs. The correlation is clear, watch Chinese economic indicators for Bitcoin pricing.
From the Price Action, it is quite obvious that the selling pressure is greater than buying pressure now. Overall, we are bearish on USD/CNH Here are 2 trading plans for you: 1. Wait for bearish signal to short 2. If price pull back higher to Resistance Zone, wait for bearish signal to short :)
Dollar is going to continue it's growth against Renminbi (CNH, CNY). Breakup of triangle would start the upside impulsive move. Target at 7.12
What is a meaningful relationship between the currencies of two very interlinked and substitute export-led economies appears to have broken down - at least directionally in this case. I think they reconverge, so my bias here is long USDTWD... So now I shall look for an entry.
eurusd -------- Potential bearish bat formation. -------- usdcad -92 (1M) usdcnh -87 (1W) audusd +88 (1D) -------- Not Investment Advice --------
If this signal works, we'll have a great rally into resistance, which could lead to a top, and a sideways consolidation for some time in the 6.75-7 range. I think this would align with other markets showing similar mixed signals regarding equities and the dollar, or with bonds and gold chopping around but finding buyers in the daily oversold lows. Bitcoin also...