USDCNY looks like untradeable and it's better to stay away from it. There's too much room to move around and Chinese are smart enough to play with.
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This is getting politicized a ton with the ongoing "trade war" issue. I'm not writing off the fact that trade wars are a problem, and I wouldn't write off that they could have some effect on how the currency reacts. But the deval of the Yuan is unlikely to be a trade war retaliatory measure. This is worse - this is the uncontrolled devaluation of the Yuan due to ...
As previously discussed in other post I expected Copper to correct quite a bit. I was expecting the 2.44-2.60 area because of many confluences. However, we have completed an ending diagonal pattern that pushed to 2.86. Now we have come down to my expected support area based on fractals and fib levels, which we are now holding. Also, if you look at the USDOLLAR we ...
this short seems like a very obvious play given the bearish divergence on momentum indicators and a strong bearish shooting star which is a classic reversal pattern, but I feel like theres a catch somewhere here: Either we will see a large consolidation that many will see as a bull flag and long just to get stopped out, or we will have another weak rally with ...
Since the start of the trade war between the US and China, the Chin. Yuan has already depreciated by 8% against the US dollar. This will make Chinese products cheaper and thus cushion the US tariffs. At the same time, all US products will be 8% more expensive, plus tariffs.
At the same time, US dollar-based loans are becoming more expensive and are likely to ...
Oil testing bottom of channel - buy
SPY testing top of channel - sell
DXY pushing breakout higher - buy
Yuan taking a break - neutral
10 Year Notes - buy
BTC - neutral (wait for close above the high of 9 bar)
Gold - almost ready to take a break, not quite done yet.
Eurodollar - buy
Expand each chart to view notes on each market.
The US Dollar Index has been stuck in a rut. Since mid-May it has moved mainly sideways. Bouncing back and forth in consolidation, like it is bouncing off of the walls of a jail cell. The top of the consolidation is at the November high, a spot it just can’t seem to get over.
But the chart below suggests there may be a jailbreak soon. There are several thing to ...
This is what I will be keeping my eye on next week:
FX:EURUSD,FX:GBPUSD,FX:USDCNH,FX:USDMXN,FX:USDTRY,FX:EURJPY,FX:EURCHF,FX:EURCAD,FX:GBPJPY,FX:GBPCAD,TVC:GOLD,TVC:SILVER,COMEX:HG1!,BITFINEX:BTCUSD
There might be some opportunities, and I want to perfect my trading in FX, so I will ignore stocks unless I have time, my priority is really making my FX trading ...
My outlook for what's happening right now and where things will likely turn or move to.
BTCUSD
WTI
30 Yr Bonds
USDCNH
Gold
DXY
EEM
Bloomberg Commodities Index
Seasonally August and September SPX underperforms while global markets outperform, this could be a good counter trend move into September lows as the US positions itself to vacuum up as much global assets ...
Even with the strength of the US Dollar , Gold is attempting to hold above 1210 which coincides with a key Fibonacci level on the chart. I know my charts seem cluttered, but this is a lot of Fibonacci, Time/price cycles, Tesla Vibrational theory and other analysis tools on one chart.
Pay attention to the 1210 level right now because I believe this will play out ...
Gold price reached a possible reversal zone at the uptrend line on the weekly time frame. You can read this post for more details, just click on the link in the related ideas below this post. If we look at the daily chart , we can see a buy signal based on a bullish divergence . The price bounces from 1220.00 level and RSI confirms the price reversal in the ...
This is getting politicized a ton with the ongoing "trade war" issue. I'm not writing off the fact that trade wars are a problem, and I wouldn't write off that they could have some effect on how the currency reacts. But the deval of the Yuan is unlikely to be a trade war retaliatory measure. This is worse - this is the uncontrolled devaluation of the Yuan due to ...
Credit Agricole's month-end re-balancing model suggests strong $USD selling across the board at the end of July as US equities rallied alongside strong corporate earnings.
DXY could use a Daily .382 - .786 retracement
This may be my second or third time analyzing the dollar index, so bear with me on this latest go. Looking at the weekly chart, especially in the last year or so, we see there is strong evidence of a reverse head and shoulders, only that the left shoulder is still to be formed. But, the reverse left shoulder aside we still have another strong bullish indicator, ...
I see no reason for the bull move to stop lol.
Let's see how far it goes
I am long btw, so going to keep an eye on it and update if something happens.
Right now don't really know if this goes up or not.
Technical Analysis
i) Looks like a Cup and Handle formation for USD/CNY on the weekly chart. Looking to short play the Handle, looking for entries between 6.62 - 6.64 down to 6.48 level.
ii) Our most likely scenario (1), will have a pullback from the Handle down to the 6.48 level from their should look for some long positions up to 6.8 level.
*ii) However, as any ...
Horizontal triangle with a breakout by 23 June at the latest (apex).
The breakout could be either direction so pay attention to when the breakout starts in order to short or long.
The potential breakout could be gigantic so this along with bitcoin is one to watch out far.
Remember, make sure the breakout is trending (bullish or bearish) before investing or it ...
The WXY countertrend corrective structure looks completed.
The minimum target for another drop is at the earlier low 6.2360.
MACD already sends bearish divergence signal and more over dropped below 0 into the negative territory.
Risk/Reward is over 2.
