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...
Probable nice CUP O´COFFEE Formation in the Yuan. Devaluation has been happeningin steps of 150pips. so this could be a long and paced devaluation (but pretty safe according to Macros). Macro Astro Mr. Kyle Bass has cited: KYLE BASS: 'We are facing the largest macro imbalance in global history' Rachael Levy 01 Jul 2016 6:58 PM 611 Kyle Bass. "We...
At the start of 2016 the PBOC began aggressively devaluing the off-shore Yuan against the USD, imo in an attempt to start the year with a competitive export:import advantage - with the aim of making 2016 a headline "come back" year for China amid the growing GDP growth and Credit bubble worries. As a result Equities across the board sold-off (-8.5% in a few...