Speculating on CNY .. from a "distance"
Updated
Looking at the CNY and its highest probable and most immediate index levels that we can theorize and speculate (using fundamentals and reason) the currency reaching in the seemingly distant future.
This is one, if not the most fascinating markets and charted data I have ever studied.
As the most powerful and fastest growing economy on earth, market performance in China will play increasingly more influential roles in the global marketplace and its participants. As the post-world war II global economy continues its evolution in the early 21st century, I will certainly be keeping my eye on the Juan.
On this publishing I am showing the theoretical levels on what would be a full retracement to the .618 of the already completed impulse down from the CNY's all-time high of 8.74. In order for this fibonacci retracement to be properly placed at these levels, the CNY would need to continue the monthly bullish uptrend to the golden pocket zone of around 7.7, where it would then need to break the trend or significantly consolidate.
Its not my most traditional, or most immediately useful piece of work, but, hopefully this is interesting to you like it is to me.
Happy trading, and good luck!
This is one, if not the most fascinating markets and charted data I have ever studied.
As the most powerful and fastest growing economy on earth, market performance in China will play increasingly more influential roles in the global marketplace and its participants. As the post-world war II global economy continues its evolution in the early 21st century, I will certainly be keeping my eye on the Juan.
On this publishing I am showing the theoretical levels on what would be a full retracement to the .618 of the already completed impulse down from the CNY's all-time high of 8.74. In order for this fibonacci retracement to be properly placed at these levels, the CNY would need to continue the monthly bullish uptrend to the golden pocket zone of around 7.7, where it would then need to break the trend or significantly consolidate.
Its not my most traditional, or most immediately useful piece of work, but, hopefully this is interesting to you like it is to me.
Happy trading, and good luck!
Note
There is a newly updated publishing regarding this idea available now! See the "Related Ideas" section below.Happy trading, and good luck!
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