By mid August the worldwide market crash will not only begin, but is very likely to already go past its acute phase. Some afterparty left for August and Sept, but the most dramatic action is going to unfold in the next few weeks.
During the crash USDCNY will definitely hit 7.32, but I expect it to go a lot higher. 7.80..7.90 is definitely on the radar.
8.20 is...
Squeezing pattern, the breakout will determine the direction of the imbalance, a break lower will see price soar down to previous balance, a break up and price searches higher for a fair price.
Based of Fibs from Investopedia (Gartley Harmonic Pattern) www.investopedia.com
Novice here.. Fibs line up according to instruction. Trading new found <3!
1st post.
The Chinese yuan rose to one-week highs on Monday, fueled by expectations that Shanghai, the country’s financial hub, will soon emerge from a two-month lockdown that has crippled economic activities in the city and weighed on the country’s overall economic recovery.
The CNY traded at 0.1504 against the greenback on Monday, recovering further from an over one-week...
As analyzed a long time ago, the crazy devaluation of the RMB has just begun. Do not invest in any Chinese assets, which may be cleared. This is not a warning, it is a definite risk. Chinese stocks listed in the United States could be taken off the shelves. Giants are leaving China, so retail investors should not die.
Since 1981, the Chinese Renminbi has recorded 5 consecutive up weeks 17 times. Last week marked the 18th occasion. Weekly winning streaks of this length usually led to further gains over the next 7 weeks, providing an average gain of 1.51%, win rate 14 from 17, maximum 5.28%, median 1.52%, minimum -0.06%, standard deviation 1.44%.
Disclaimer: This data is not...
The devaluation cycle of RMB will resume. The first goal is 6.6, the second goal is 7.49, and the third goal is 10. With the aging population, the birth rate of China's economy has decreased and began to decline in an all-round way. The collapse of real estate, the withdrawal of foreign capital, debt default, the explosion of China concept shares, and Hong Kong's...
Due to USA involved in the war between the Russia and Ukraine and declining economy according to various economic data, more people in the world show their preferrence to buy safe haven assets including CNY, because of China's stable development. With CNY rising, US dollar has kept falling.
bing chilling!
i miss china so much, but who on earth would want to be there right now while the ccp is having a meltdown in international relations and covid mitigation.
keep it simple, keep it free.
just let the people be.
a little bit of my heart will forever belong to shenyang and dandong.
The price action of USDCNY is currently establishing a major Accumulation range, as postulated by the Wyckoff Method, between the support level at 6.3450 and the 23.6 per cent Fibonacci retracement level.
The completion of the preceding downtrend, underscored by the descending channel, is confirmed by the completion of a 1-5 Elliott impulse wave pattern.
A...
