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...
- 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.
Yellow solid lines mark the trading range. Yellow dotted will be future MP centre and level of interest. Lower yellow price will be support with bulls pushing back up. Upper blue line will take turns as support and resistance. Lower blue line will be final destination subject to PBOC refixing rate. Precise entry level tough given slim volume up here. I'd...
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...
Key events: USA - Building Permits USA - S&P Global US Services PMI (Aug) USA - New Home Sales (Jul) USA - Crude Oil Inventories On Tuesday, global stock markets aimed for a rebound, yet this resurgence encountered a setback as benchmark Treasury yields surged to levels not witnessed in almost 16 years. Apprehensions regarding the prolonged existence of...
I remember a few months ago there was talk about the Chinese Yuan being the new reserve dollar? Ray Dalio? The China economy looks so far gone its not even a joke anymore Government forcing people to not sell assets including banks / institutions China stimulus debasing the currency parabolically China stock index failing to grow at all China no...
Aussie Dollar looking extremely weak adding it to the list. Japanese Yen extremely weak China Yuan Extremely weak. There's a problem brewing in Asia / Oceania if the FRED does not start lowering rates you're going currencies like the JPY / CNY / AUD potentially lose 30-70% of its value against the United States Dollar. Japan cannot raise rates due to the...
Japanese Yen running the risk of entering Hyperinflation like the Argentine Peso thanks to the USA. JPY Used to purchase US Debt while USA has Inflation problem has caused them to purchase more than expected including the FRED running (System Open Market Account (SOMA) (soft YCC) China cannot get growth due to US higher rates slowing business growth...
FX_IDC:USDCNY Price is at a tough spot and I should wait to make a guess. Price could break out of the triangle and retest the resistance zone(I didn't mark it but it will be the last high)before it shoots up -OR it will come back down to the daily support and continue in the range. All I can say for now is that I'm watching to see if a "death cross" will form...
Authors: SanTi Li, & NaXi Da U.S. Treasury yield, long considered as a risk-free rate (R0) for value computations and future valuations as per materials like the CFA curriculum, bears nearly zero risk in the financial landscape. However, what happens if this supposedly risk-free asset becomes risky? A U.S. Treasury default would have vast ramifications on the...
It's been a long time see we last traded the USDCNY pair (see chart below) but it was a long-term trade that very precisely hit the both the 1D MA200 (orange trend-line) and 1W MA100 (red trend-line) targets: After the January 16 rebound, the pair former a Channel Up and currently the price is approaching the 6.9785 Resistance. The 1D RSI got overbought on...
Chinese Yuan money supply is double the US at $40 trillion with no end in sight. (Note the Chinese Yuan in the chart is adjusted for the exchange rate to the $) BRIC's are a fantasy as I have mentioned before. If you have a problem with US printing you will really have a problem with China Printing Press! Recently Russia walked away from India and broke off...
First off, I am NOT a Forex trader or highly in tune with the intricacies of the forex market. However, I am a Chartist and I see what I see. The USDJPY is in a current short term down trend, posting Lower lows and lower highs. With the CPI data coming tomorrow for the US Economy I would suspect some significant movement to start tomorrow and not end for a...
Sadly the dollar shall reach parity with the yuan soon.