Expect a more strong Yuan push rate to 6.26 support area. Currently in a strong downward trend.
China’s Supreme Court has issued a ruling that specifies penalties for offenders who use cryptocurrency to raise funds. Penalties range up to 10 years in prison and fines of up to 500,000 yuan ($79,000). China’s years-long crackdown on cryptocurrency has stepped up another level, thanks to a new Supreme Court ruling that paves the way for fines and potentially...
The Chinese Yuan spent most of 2021 appreciating against the US Dollar despite a broadly upbeat year for the latter. Now, fundamentals may be paving the way for its turnaround amid the risk of slowing demand for Chinese exports - www.dailyfx.com USD/CNH recently turned higher following a more hawkish Federal Reserve, reinforcing the key 6.3526 - 6.3238 support...
FX:USDCNH The Chinese currency is in the lowest price range since 2018 Yuan is in the Support Area China Yuan Support Range : 6.31000-6.40000 Entry Price :6.35000 1st TP: 6.47000 R/R: 3 2nd TP: 6.59000 R/R: 6 3rd TP: 6.69500 R/R: 8.5 SL: 6.31000
USD/CNH dropped to its lowest level since 2018 after the 2021 low gave way. Prices have been pressured lower by the 26-day Exponential Moving Average (EMA) following a Symmetrical Triangle breakdown in October. MACD is crossing back below the signal line while RSI heads lower. The Yuan may continue to strengthen versus the US Dollar given the current trajectory.
The Chinese Yuan's volatility versus the US Dollar has eased considerably in recent months compared to price action seen earlier this year. USD/CNH is quickly approaching the apex of a Symmetrical Triangle pattern, however. This may see the currency pair make a break higher or lower in the coming weeks. Technically speaking, the triangle doesn't show bias to...
Republishing this from my USDCNY post. 1. Head and Shoulders pattern 2. MA's + PA show a bottoming pattern 3. China will devalue the Yuan (Remnimbi) 4. Dollar $DXY will go over 106 5. Gold $XAUUSD will go below $1,500 oz. 6. Silvere $XAGUSD will go below $15 oz. Trade idea related to this currency pair that goes through other macro factors twitter.com 10, 20,...
1. Head and Shoulders pattern 2. MA's + PA show a bottoming pattern 3. China will devalue the Yuan (Remnimbi) 4. Dollar $DXY will go over 106 5. Gold $XAUUSD will go below $1,500 oz. 6. Silvere $XAGUSD will go below $15 oz.
The strength of the Chinese Yuan and equity markets appears to be correlated due to the Chinese's increased trade presence and credit expansion. If price action continues to push below the 200 day EMA we could be likely looking at a bear market. Could the dollar milkshake theory prove to be correct? Only time will tell. (Dramatic music engage)
🏛 USD_CNH broke out of the falling channel And also broke the horizontal key level Which now serves as the support confluence And is being retested by the pair I am bullish now, and I think that after the retest The pair will go up to retest the next horizontal resistance level LONG🚀 ✅Like and subscribe to never miss a new idea!✅
ING discussed its expectations for the USDCNY in a recent note to clients. Finally, the PBoC acts to deter yuan appreciation After several rounds of talking down yuan appreciation, China's central bank has now taken some firmer action. The PBoC will raise fx deposit reserves from 5% to 7% effective from 15th June. This comes after the PBoC appreciated the...
CNY has broken a major long term trendline against the US dollar. I believe there is more upside ahead for the Chinese Yuan. The Chinese gov will try to talk down the Yuan to dollar but that will not work without some major government intervention. Just today, they announced a hike in reserve ratio requirements for the first time since May 2007. This move didn't...
Chinese Yuan has been performing very well against the USD, but that bullish run is about to be halted! USDCNH has pullback to the monthly ascending trendline and also on a good support level. Expecting price rejections at this level for another rally to the north. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
📌 Clarification of the manoeuvre designed to show the third liberating impulsive leg The following position was reached after Buyer's attack on the log chart created room for a momentum break. I chose the 'log chart' break (which was a game changer in the opening phase) as the one to track so that we could make use of the whitespace above. The way Buyer's...
Please do not listen to anything I say. 1. Buy Yuan now 2. China keeps on China-ing 3. ???? 4. Profit
confluence zone ~6.46 if we get there will watch PA for long opportunity
eu lockdowns in progress only Uk doesnt want another wave of lockdowns germany needed 10 bilion to boost economy new protests and riots in Poland still no brexit deal And to all that GOLD reacts by going lower? something is wrong you may as what? Nothin much just China Banks buying USD to curb yuan;s strenght CLOSER TO THE CHANNEL BOTTON => BETTER PLACE...