USD/CNH Extends Gains Amid Firmer US Dollar and Geopolitical Tensions The USD/CNH currency pair has been making significant strides, extending its gains for the fifth consecutive day during the Asian session on Friday. Trading around 7.3530, the pair is now approaching the resistance confluence at 7.3590. Simultaneously, the onshore Yuan (CNY) has reached a...
Why is the yuan falling? → Strong US dollar. Yesterday it became known that the number of applications for unemployment benefits in the US amounted to 216k for the week — below the forecast of 232k applications. This is the lowest level since February. → Worsening problems in the Chinese economy. Yesterday's data from the General Administration of Customs of...
After the completion of the wave 4 downside correction, the dollar resumed its upward to complete the wave 5 of the same degree.
In this update we review the recent price action in the USDCNH and identify the next high probability trading opportunities and price objectives to target PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS
This pair will continue Bullish move. Double bottom has been formed and a Pennant is pulling back the slingshot to send the price higher. EMA 20, 50 and 200 Holding Bullish. It will go back to 52 Weeks High (Dotted Yellow line) at 7.37500 in the short run. Weekly chart is confirming this analysis.
Since January, the Chinese yuan has weakened more than 9% against the US dollar due to problems in the Chinese economy, as evidenced by statistics, as well as the bankruptcy of the developer Evergrande. And today, the People's Bank of China announced that it will reduce the required foreign exchange reserve ratio to 4% from 6%, starting September 15. The move is...
USD/CNH remains within an established uptrend on the daily chart, and the US02Y-CN02Y spread has reached a new cycle high to suggest upside pressure could be building on USD/CNH. Prices have retraced and are now trying to build a base around the June highs. Bulls could seek dips around the cycle lows with a stop below 7.25 in anticipation of a move to 7.35, the...
Hi Traders, Investors and Speculators of Charts 📈💰 The 15th BRICS summit was held in South Africa from August 22-24, 2023. There have been some important updates that concluded from this summit and if you're an active trader / speculator in the Forex, stocks or commodities market, you NEED to know about this. The BRICS countries (Brazil, Russia, India, China,...
Here is analysis for this chart. 1- This pair has formed a beautiful Double Bottom. 2- This formation is at the 52 Weeks High (Yellow dotted line). 3- EMA 20,50,200 are all showing Bullish move 4- Stochastic is above 50%, despite the Bearish move which is due to the pull back. 5- It has created a Pennant (flag) as a sign of pullback to continue the Bullish...
In light of the divergence of the MACD indicator in conjunction with the recent stock brokerage fee adjustments and the Central government's approval of the top dogs to save the day, the USDCNH likely to reverse into the range of 7.2350.
Multiple rejections of the 3 level and entry on 2.5 for a 1 to 3rr is my basic prediction for yuan. For it couls still go up because of the unresolved fundamentals. Like yields didn't cut as much for loans, losing birthrate, and lack of foreign investment support on debt. Like evergrande, shadow banking, and dying house investments. This is simply because china...
Yuan only has one problem. Will the Chinese economics be able to pay investors? Because of the ongoing issues, this has yet to happen. So for now, it is safer on the side of long until Chinese businesses shows foreign investment good faith by paying off investors what they owe.
Because of China business failure to deliver, i can only see it as a risky option. But they could turn it around if they are able to pay off their debts. And probably by keeping their hands off the territories of other countries. One thing for now is China yuan is going down.
... and it is about to roll over. E.g. Sell it ALL!! This is the year (2023) to start the Long March (a familiar theme in Chinese history), to gain full stride, right into oblivion. Namely, the Chinese demographic implosion which has been gathering speed for quite a while now, will hit that country with undeniable force, essentially halving the population in...
as you can see, the chart is almost identical in peaks and valleys to the us yields. Implying they are not selling bonds as heavily as their currency recovers, and are selling bonds as their currency is losing value, to help prop it up. Rates could go quite a bit higher...
The idea is on this one-hour chart which has the DXY overlaid showing the dollar as the strong currency also watching YINN rising and YANG falling
Now, we are eyeing at USDCNH pair. The Economic Data from China is as disappointing as it gets. As if deflation is not enough, bank credits just hit 2008 lows! We are long USDCNH with above 7.50 target! -Signalwyse Team
Versus usd, because of the recent stance of country's like Philippines standing against China in the west Philippine sea issue; other countries who has interest related to and who are against China may make a move against the yuan.