Here we go for a round of important chart update on the FX, Commodity and Equity board... I do not subscribe to the idea of this being the start of the euro reserve currency rally which we were tracking earlier in the year that failed from the Coronavirus short-circuit, although it is certainly moving with speed. Remember we have month end flows in play now too...
On the technicals there is little to update while the resistance holds, despite the bounce via PBOC intervention on coronavirus risk flows. The only level in play to the topside is 7.0248 as it caps the highs in the current wave. Anything above will unlock a leg towards the next barrier at 7.0733. The coronavirus short-circuit sadly temporarily disrupted the...
- RSI divergency - Divergência IFR - must break support @ 7.10 - precisa romper suporte em 7,10 - another support @ 7.00 (weak) - outro suporte em 7,00 (fraco) - major support @ 6.93 + 200 days ema - TARGET - alvo no suporte em 6,93 junto da mme 200 dias.
USDCNH has been in an uptrend with multiple higher lows, however, recently this began to exhaust as new higher lows (confirmed by higher highs) failed to materialize. We also had a big resistance/flip zone hit at 7.00 The swing at 6.9785 was an early entry signal, and also because it broke a smaller flip/support level above. Looking for a possible head and...
Coronavirus has damaged financial markets of China. Chinees stock droped almost 7%, economic grow with 2%. Of course Chinees yuan planged after market open today, now trading at 7.0202, next target 7.0719
The Australian Dollar is in route to challenge a breakout from its long standing downward momentum. Currently riding on an up-channel, the current price point sits at the bottom of the trend line + both 50 & 200 EMAs are immediately below; indicating additional support. As observed on the 15M chart, after touching the bottom of the trend line, the price point...
Since mid-October the GBPound has been gaining momentum against the JapenseYuan. Reaching a recent high of 147.900, the price point immediately reverted to retest the previous channel's top trend line near 141.500 (shown in orange). After a showing of strong support, the price point returned to its longstanding uptrend which started August 11th 2019 (shown in...
A good time to update the CNY chart with US away from their desks for thanksgiving. Both sides rolling back tariffs means that CNY has unlocked the gates for a retrace towards the key 76.4%. On the monetary side, updates from PBOC who continue sitting on the bid and are unlikely to change stance and keep CNY strong against the crosses, and as long as this...
Chinese YUAN / USD pair touched the top of the falling wedge channel so if price drops we expect Gold/USD And Bitcoin/USD pairs to start an uptrend since the Chinese will exchange their YUANs to safe-havens like gold and Bitcoin. Consider that Gold started its uptrend a few days ago.
if our guesses are correct, then closer to December we will see the growth of bitcoin in parallel with the yuan.
As we all fret on the verge of what's going to happen next with BTC, the Fed, the SEC's decision on Bitwise's ETF, the US-China trade war, etc... It's good to also not forget how influential China has been in the news the past year. And not to mention, how influential China has been to BTC the past decade. If we look at the charts of both BTC and the RMB, there...
See chart for illustration Lower time frame will be published soon as price action is been monitored
Hi, today we are going to talk about Yuan Renminbi and its current landscape. We have a Double Top Breakout on USD/CNY with Volume and could bring the Yuan Renminbi to a dramatic devaluation against the US Dollar. Trough this daily chart, we can observe that China's central bank - (PBOC) had to remove or loosen the grip on it, allowing the currency fluctuation...
All description on the chart. Please, don't forget to like and follow. Thank you.
After China devalued the Yuan on Monday, markets were awaiting a US response. It appeared quickly enough: The U.S. Treasury Department announced late on Monday that it had determined for the first time since 1994 that China was manipulating its currency, knocking the U.S. dollar. Maybe in response to this, or maybe just to show that the fall of the renminbi on...
Chinese state media supported the government’s move on yuan’s weakening, saying it was normal. The press stressed on economic benefits that come with a flexible currency. According to Xinhua News Agency’s Monday report, the yuan falling beyond 7 a dollar is a result of a market drive. The move shows the exchange rate is now more flexible. The report also said...