We have a very clear setup with the market rolling over after hitting an options expirations key level, since the Yen pairs soared due to Bernanke's helicopter money suggestion to Kuroda. In this chart you can observe the trade weighted index chart behavior, to more clearly illustrate the true strength in the Yen, clearly, this year's top investment, closely tied...
USDCNH may be due for a correction towards 6.60. The Yuan has weakened to 6.70 per dollar and the pair appears overbought on a weekly and daily basis. Having failed to provide a confirmatory close above this key level, we may see a correction towards the 38% Fibonacci retracement level standing at 6.6056 In the meantime, the highly correlated Dim Sum bond ETF...
At the start of 2016 the PBOC began aggressively devaluing the off-shore Yuan against the USD, imo in an attempt to start the year with a competitive export:import advantage - with the aim of making 2016 a headline "come back" year for China amid the growing GDP growth and Credit bubble worries. As a result Equities across the board sold-off (-8.5% in a few...
Although it's CNH, the pattern is still possible lol.
We have a pretty clear shorting opportunity in X. I had succesfully shorted it before, you can see my previous post in related ideas. Fundamentals weigh heavily in steel right now, and the technicals in this chart are compelling, so I reccomend entering shorts under 16.33, with stops above 17.10, and target at least a retest of the recent lows, but we could break...
The offshore RMB is the orange line. As you can see, the history is too short, so the main USDCNY chart is shown.
Supply zone's upper line crititcal
I don't usually read much from daily patterns. This one is just for fun. It is going to break the lower bound of the sliding channel any time soon. But before that, it can temporarily go up a little bit.
USDCNH is a very interesting pair right now. In this chart you can see a few instruments, pitted against each other. Currently, talking currencies, the offshore yuan is lagging the group, compared to the other dollar pairs on chart, and it happens to have a weekly time at mode downtrend signal, which confirmed last week on close, which gives us targets of 6.37 and...
your own risk. Dont forget: you can lose your money
Hello Traders, Following the theme of this weeks chart. Here is another Wolfe Wave that is underway on the hourly time frame in the US Dollar Chinese Yuan Pair. Look for an exit at the 1-4 Line
Useful for adjusting positions, sizes, stops, strategy & hedging