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 $$$
For traders, this could mean going long on the ticker or exploring call options in the next month. Tickeron AI shows that
in 38 of 124 cases where CNYUSD Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 31%.
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...
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...
USD/CNYUSD is falling to 377.20USD
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People should begin to take notice of the price of Bitcoin in Chinese Yuan. This chart looks a bit more bullish than priced in USD.
I am looking for the price to break upwards starting around Sept 19th. It will probably grind its way up to 13,000 (USD) by end of Oct, come back to retest support, and blast through 13,800 (USD) by early-mid Dec. I am looking for...