📍 USDCNH into the elections Oct 2020 Markets are moving quickly. Sellers completed the third wave target at 6.629x as widely expected. The pullback we are tracking in wave 4 is now brilliant proof of a lust to expand even further down. In the 2020 macro chart, we are ahead of schedule and a healthy pullback into the elections, followed by an exchange...
1h time-frame: end of fifth wave of Elliot. heavy fibonacci cluster. 15m time-frame: double bottom and trigger. RSI and MACD positive divergence. RD+ buy at: 6.6970 stop loss: 6.6770 tp1: 6.7120 tp2: trailing
FX Update: USD breaks support but do bears want to press their case pre-election? Summary: The US dollar closed last week below important support levels as investors position for a large US stimulus deal and wax positive on a Biden presidency as odds continue to tilt his way in the latest polls, easing fears of a contested election. Elsewhere, China initiated a...
Hello everyone USDCNH broke a uptrend channel and now we retested the broken uptrend we should expect a drop to the demand zones or this could be a fake breakout and we head back into the channel weekly candle close is very important :) watch chart notes and feel free to ask any thing
Morning coffee makes a day.
Measured move shows the previous wave cycle was corrective, making the next cycle the impulsive wave. *Since Yuan was introduced since 1955, there no use for making upward measured move target with incomplete data. --- Fundamentals// that China is not willing to keep print money like before+ US printing $$$
With the Chinese economy strongly recovering, and the PBOC being one of the rare few central banks which is not printing like there’s no tomorrow, the outperformance of the CNH is just beginning. USDCNH has closed below the weekly Ichimoku cloud convincingly. Any pullbacks to 6.93–94 will be a good opportunity to get short for a test of 6.70 and below!
USDCNH reached key daily structure support. touching the underlined level we see a bullish engulfing candle confirming the significance of this level. on 4H the price is currently forming a right shoulder of inverted head and shoulders pattern formation. 7.09 is its neckline. wait for a 4H bullish breakout of it and then buy on retest or aggressively (4H...
looks bearish to me still. Maybe 96 needs to be tested B4 any reversal
Hey friends hope you are well and welcome to the new update from the forex market. The Chinese Yuan has completed the bullish setup and ready to move up against US Dollar. In today's article we will watch the different chart patterns and indicators that are giving signals for the bullish movement of an Chinese Yuan. A big falling wedge: On long term monthly...
SOMEONE EXPLAIN TO ME HOW THE DOLLAR MILKSHAKE THEORY CAN OVERRIDE U.S. SOCIETY DISSOLVING!
Simple- Chinese Yuan currency devaluation by stealth over time against all major trading partners. Effectively, eliminating the effects of the trade tariff altogether.
A trade I picked up tonight. Fundamental: -AUD to weaken from CNY weakness as they fail to make 880bln in loans -economic performance expected to decline as outlined by Lowe Technicals: -strong rejection off end of daily range -supports built at swing low, first candle (1st arrow) Sentiment: -AUD overextended but GBP also weak -maybe if gold continues down AUD...
Strong bullish rally and retracement at golden ratio: The Chinese Yuan has been moving up with a strong bullish rally since June 2007 to January 2014 that is almost seven years that the Yuan has been moving up against the US dollars. Then from January 2014 to January 2017 the Chinese Yuan moved down and retraced at 0.618 Fibonacci level that is the golden ratio...
NZD is moving as collateral with AUD, those following the previous AUDCNH idea will know this is no less imaginative. New Zealand is exposed to a short-circuit in Chinese supply chains leaving it vulnerable to a slowdown in China via coronavirus. On the monetary side, RBNZ has been notably quiet around the impact from the virus. The CB will not be able to hide...
A major breakdown ahead of the open as markets catch up to the virus disruptions. AUD and global trade are set to suffer for sometime, it will take a brave man to step against this flow. On the monetary side, RBA tee'd up a rate cut in April with another in Q3 on the cards. Housing has already done the heavy lifting, will need A LOT more help from elsewhere to...