Friends,
Expecting continued shorting to the mean price.
After a price move like this the price is now governed by uncertainty more than anything, and I expect a retest to a price appropriate for further move decision making, and trend coordination.
Best of luck,
Tom
In this thread I'll study the relationship between the offshore yuan and other FX pairs.
We have two signals here, a monthly one aiming at 6.72254, to be reached before August 2016, and a daily one pointing to a very vicious decline towards 6.23893.
What's interesting here is that usdcnh seems to be a good leading indicator to trade the Aussie dollar and other...
Friends
Near future perspective is short, but to work out the future for this stock future price is a lot harder due to
1: The very strong price move due to Yauns devaluation (Biggest in years) created a shock reaction move, it will take a long time to find stability again.
2. Technicals are being taken seriously by traders in this pair now, due to fundamentals...
Here we have CNHUSD and S&P 500 futures (Emini). Looks like there was a response to today's PBoC fix, but the magnitude and direction for both fix and reaction has flipped.
In the Tuesday and Wednesday PBoC Yuan reference rate fixes, we witnessed dramatic response from the markets to the seeming devaluation move. The FX response seems to be moderating, and overnight equity market response seems to have cooled this morning. The verdict is still out though on how permanent the calm is though.
The off-shore Renminbi has not traded for very long. So, it is not a surprise that this USDCNH move is a record. However, better perspective is seeing the move compared to recent price action. Prior to Tuesday's charge, the average true range of the previous 10 days was less than 70 pips. This move blew that average out of the water.
Friends
Just came across this out of no where, I'm not looking at the here and now of this stock, I'm looking into the future.
We are currently in consolidation, and we have not left this range for some time. We have seen higher highs in this consolidation area, and we have a nice fibonacci confluence, long term zone, which lands on the area of consolidation.
I...
Looking for a long to the upside, lots of reliable levels to go on, definitely worth a shot.
*You are able to utilise tight stop loss procedure on this stock.
Regards
Tom
Fellow Traders,
I am LONG the USD/CNH for the following reasons:
Fundamentals
In the current currency war, China's focus is on maintaining the competitiveness of its export goods vs. other exporting merchantile nations around the region, e.g., Japan, Korea et. al. In a deflationary environment, with currency depreciation happening across the region, either...
Get ready for a breakout. It has failed a few times in the recent past but the USD has more going for it this time around.
NB. Go long and trade safely only after a retest of the breakout. A Fakeout will take out both the first immediate support level and the 2nd one - so do not place a too tight of a Stop loss
Broken support turns resistance. I think this might be a nice short trade (although Mg. Requirements and Dollar earned per pip are TOO HIGH in order to really profit from this trade)
Both technical and macro-economical analyzes (China stats underperform) are predicting a spike on that currency pair.
Trader waited to finally have a good signal on which way the price will drive. It looks we had, as i tought last week, a nice busted pattern in the making (see: thepatternsite.com ). Busted patterns are more powerfull than a regular breakout as it...
Channel direction.
Double top. potential Elliot Waves. Triangle resolution.
Fibo retracement and extensions.
50 and 200 sma(currently under) resistance convergence.
Stochastic, treading water.
EM Asia FX mostly up vs the USD the last month and outperformed the other EM.
Asia’s robust performance in FX and fixed income, should continue over the next few...
A support. Has become a strong resistance.
There is no doubt about it. RSI also confirms this analysis.
Entered at the first opportunity we sell. Also it remain until the end of September.
