Note: the technical indicators show a TTM squeeze ready on EVERY TF except Monthly, which is about to happen shortly by this summer - which means a massive move will happen. BOJ will blow up this summer and will devalue against the dollar forcing China to devalue to stay export competitive. I see a 50% devaluation - which will have the opposite effect on everyone...
The USDCNY pair gave us an excellent sell opportunity on October 02 2023 (see chart below), as it stayed below Resistance 1 and hit our 7.1225 Target:
The price has since started to rise after hitting the bottom (Higher Lows trend-line) of the long-term Rising Wedge, and now sits above the 1D MA200 (orange trend-line), past a 1D MA50/100 Bullish Cross.
We...
Price remains above the 200 Dma. The past 20 bars shows more bullish bars than bear. And we have recently made a new high.
The sentiment remains for another month where in April the bull will continue.
China has so far been aggressive in Her invasion of Philippine economic zone based on the Unclos. And as the violator, I can see the trust in China is constantly...
Ladies and gentlemen, my fellow Americans, and all you Zoomers out there, gather 'round! Uncle Joe’s got some thoughts about our greenbacks and those sneaky Chinese Yuan. Buckle up, because we’re diving into the financial rabbit hole. 🐇
1. “The Dollar’s Got Swagger”
You know, folks, the U.S. dollar has been strutting its stuff for centuries. It’s like that cool...
- Trend Status Analysis by PresentTrading
'Use backtesting to evaluate and make objective trading decisions.'
by PresentTrading
#forex #USD #CNY #trading #backtesting
The USDCNY pair gave us an excellent sell opportunity on our last analysis (October 02 2023, see chart below), as it stayed below Resistance 1 and hit our 7.1225 Target
At the moment the price is struggling to break above the 1D MA5 (blue trend-line), which it hit yesterday for the first time since November 06 2023. What we are currently more interested at is...
Daily chart, the USD/Yuan is seen to test support at 7.06 - 6.94, then rebound to target upper resistance line (blue) at 7.40
Crossing the 7.40 level will push the currency pair to far high targets on the longer term.
Stop loss at support line (red) should be considered.
Price in Daily timeframe seems like to complete 5 wave bullish move and also we can see bearish standard divergence between price and MACD which is a very good signal for pinpointing the top.
But the important thing to remember before taking position is to see market structure shifting to the downside with forming a lower high or creating a new low which at the...
As you can see in the chart massive bearish divergence between price and MACD indicator in weekly time frame which can cause a long term selling opportunity.
Also price is testing bullish trend line acting as resistance since its connecting the tops and every time price test this trendline sellers jumped into market and drive price lower.
Also as you can see we...
As you citizens can see we've found a mistake in our earlier analysis, we are apoligising for this. We think that during summer of 1998 Russian Federation stepped into fx trading big time and move cycles towards bigger and longer planning. So as you have guessed this is a game of sharade about who is planning longer and who is taking gaps. Thank you and see you...
As it seems in this cold winter Chinese ecnomy has been overheated lately and come to a cold relax. Being world fabrique they hold the leadership in currency squable nevertheless USD, RUBLE, YEN, RUPEE and the rest of the world play their role in the nevertheless of the world markets holy place. Wee see June 2025 as the key uncompounded substance of what is going...
As you can see we prepared update for the currency agenda, we have added gd, jpy, rub, and inr to the fuse, as you can see fibonacci cycles stayed the same in the anbsence. We think or at least clearly see on a chart that rub was the most profitable currency available. In the later arrivals we will try to discover most profitable assets nominated in rubles and...
On the chart we have prepared you can see how yuan was the most hard currency to understand during first two cycles of liquidity squabbling. After this in 2009 USA started to develop a new paradigm ideal for currency fx trading. This was in the third fibonacci cycle of the Chinese brainwave. In the result 2015 was the groundbraking moment resulted in the...
USDCNY is extending the strong bullish pattern inside the nine month Channel Up. The neutral 1D technical outlook (RSI = 53.450, MACD = 0.011, ADX = 34.492) indicates that the current level is a good buy opportunity, especially since the 1D MA50 holds. A crossing under the 1D MA100 however invalidates the bullish trend. Until then, we are long aiming at the 2.5...
It has been long since we last traded the USDCNY pair (May 2023), that gave a solid short-term buy break-out signal (chart below):
The trend has broken aggressively inside a long term Channel Up, which recently broke above the 7.3300 Resistance but only marginally. It stands out that the Resistance breach was made on the Head of a potential Head and Shoulders...
