as we seen a divergence on weekly time frame and also a previous completed wolfe wave we believe that euro will increases against CNY
tp/s are specified based which is first one is on the ema200
any comments please share
tnx
The Yuan, which is slowly converging toward its purchasing power parity and remain undervalued, is set to appreciate if we refer to its long-term trend versus the Euro.
Quite a similar picture to EURJPY. Pivot confirmed here and we are in impulse. Goals are in green, invalidation in red. This is not financial advice, please do you own research and for chrissake's think for yourselves.
👨💻 Do you want to earn money on the exchange? I am sure that many people will answer this question in the affirmative-YES! Do you know what you need to do? Develop your own trading system and follow it clearly, recording all your trades and analyzing them after completion! If you don't, you probably don't earn any money. By the way, in a recent correspondence...
The ERUCNY pair seems to be making a retracement after the run-up that started in June and lasted until September 2018.
I will be trading this unleveraged. I am just buying and holding Chinese Yuan without using a broker that lends me money to leverage my bet.
Target 1 is at the 50% retracement of the June-September move.
Target 2 at the 68% and target 3 at the74%...
The recent increased expense ratio on short trades on the CNY-RMB will naturally push the value of the Chinese currency up versus the EUR and USD. A quick trade for a quick 1/5-2%.
IDC
