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%.
www.zerohedge.com Looking at ideas on how to play a potential China meltdown
Difficult risky pair to trade....Event coming within a few hours...
EURCNY might have finished the decline from 11.273 to 6.5158. In the long run it should retrace back to around 8.89. Good luck for everyone!
EURCNY resting on the short trigger line, break down is to be expected.
Price is compressing in a correction so I'm still looking at a probable impulse down.
Price broke though the trendline and is retesting it. Closed friday at the line. Expecting continuation down next week.
I think the EUR will continue depreciating and appreciating against the CNY as shown by the general trends it seems to be following. There's consistent, although there's not 100% contact with the support and resistance lines. Maybe like 90%? So hopefully it continues along this trend! Critique away please :) .
EURCNY to continue last weeks prediction after the break of the trendline.
EURCNY price broke the triangle as projected last week, it should now move down to the larger trendline.
EURCNY about to break down for the bottom of the channel. It might go through the channel
EURCNY is on a major wave 4 correction channel. Inside it, a wedge getting to and end. Expecting a breakdown soon.
FX_IDC:EURCNY Safe Trades; open.spotify.com
FX_IDC:EURCNY Safe Trades;
After a double bottom, a nice 61.8% fibo retracement occured. A new up-move is likely to happen. Hereby plausible T& & T2 targets.
With the China crash still fresh on everyone's minds its time to ask if the Renminbi has bottomed out or if there is still room to crash. Based on the link attached, there seems to be the potential for a lot more bad debt that China is trying to avoid confronting, and probably couldn't even account for if they tried. On the technical side, note the massive...