Just minutes ago, Reuters reported that Lightheizer and Mnuchin are going to Bejing for talks. However, trade war detente is now not on the table until June. Trump threatens to keep tariffs on if China won't hold up their end of the deal on intellectual property. Honestly its not looking good. It is difficult to tell if this trend will continue to go negative and...
Here we are getting very close to the moves and trading the initial breakup in this final 5th wave on the large timeframes (see attached: "Adding upside exposure on a correction" for more details on this count).
Dollar strength is coming to our screens, time to position.
Best of luck
On the hourly chart of USDCNH, the price has finished the 1-5 Elliott structure with strong impulse wave (A), I expect the price to start correcting to local Fibo levels in the nearst future. There we would find an optimal long signal. I will keep you posted! What are your thought on USDCNH?
On the daily chart of the instrument, according to the Elliott waves, the price is moving in a corrective ABC zigzag which should continue the bearish correction. My entry sell level is the latest bearish fractal.
Hi Guys,
just wanted to share an interesting articole by David Brady @GlobalProTrader on 2nd August. I found it after reading this tweet by @TaviCosta twitter.com that hit my curiosity.
Work in progress! Lol.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The...
This morning we saw another one sharp reversal of Yuan to growth.
In the previous month, the People's Bank of China actively engaged in interventions in the foreign exchange market and spent on it more $34 bln, protecting national currency from disordrly decline, although it did not interfere USDCNH’s from crawling up.
In November, we have already seen a couple...
As the USD/CNH inches towards 7, and the yuan hits a 22 month low, I believe we will see a major correction triggered by the upcoming US Reporting this Friday.
Please remember the yuan does not float and the country has complete control of the re/de-valuation of its own currency. China has been known to manipulate their currency in either direction when the...
Price has formed a strong price action at the top of the pattern and now is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
Don’t take a trade if you don’t see clearly when big guys are in.
Forex signals premium channel. We made 1048 pips this week. Join us!
t.me
For many conspiracy theorists familiar with the cover of an edition of The Economist from 1988, the 10/10/2018 is significant for being the date when a new world currency will be ushered in. It seems instead the date that traditional stock markets come tumbling down, with DJI down 1,300 points over the past two days and many other stocks following suit.
China's...
Yesterday's risk-off mode was likely driven by the rise in USDCNH after China's return to the markets. Remember that the 6.9000-7.00 zone is the line in the sand. Any trade war jitters, or economic difficulty in China could weaken the Yuan even more, driving up the USD and putting more pressure on Emerging Markets.
Price is on a continuation pattern to the downside. Wait for the price to form a continuation pattern on a lower time frame and watch strong price action for sell.
Don’t take a trade if you don’t see clearly when big guys are in.
Forex signals premium channel. Join us!
t.me
Wait for the price to complete the continuation pattern that it's forming and watch strong price action for buy.
Don't take any trade if you don't see clearly when big guys are in.
Trade wars potentially escalating and this chart shows major buy signals on the Yuan as it is near historical support/resistance levels. Will the Yuan break down or will it reverse and appreciate in value relative to the USD in a stroong way. Only time will tell, but this chart is interesting.
It’s been noted by many market participants over the past few months that the gold-Chinese renminbi – aka the yuan, CNY (onshore yuan), and CNH (offshore yuan) – has tightened into virtual lockstep. This post explains this relationship and why it’s happening.
Full story: aff.whotrades.com
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