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CNY

USDCNY Brace for a cyclical 1-year sell-off.The USDCNY pair is almost on a 3-month decline after a Lower Highs rejection early in July. Having broken below its 1W MA50 (blue trend-line) the same month, which was the long-term Support, this Lower Highs is a standard cyclical top formation that has shown up both on the May 2020 and 2017 tops. The similarities are more obvious on the 1W RSI, where the pair makes its cyclical bottom after a Higher Lows trend-line is formed on oversold territory and tops on the Lower Highs trend-line shown. Right now it appears that we are just before it breaks downwards aggressively and attack the 1W MA200 (orange trend-line). The Sine Waves also give a great perspective of the frequency of those Cycle Bottoms. As a result, we expect the pair to have reached by the end of 2025 the 10-year Higher Lows Zone. Our long-term Target is 6.500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
CNY/USD Trend since 06 2007. Channel. Reversal zone.Logarithm. Time frame 1 week. At the moment, the currency is stronger than the dollar. The main trend is a descending channel. The price is in it now. Secondary trend — breakout of the descending trend line. Price growth to the median of the channel, and in case of its breakthrough, to the resistance. If not, then a pullback to the lower zone of the channel. Local trend — The nearest events and news background, which can affect (not necessarily) locally (movements to the median of the channel, i.e., the middle, if it is positive) on the yuan rate. This, in less than 1 month, namely from October 22 to 24, 2024 will be held 7.16 XVI BRICS summit (short for Brazil, Russia, India, China, South Africa) in Russia in Kazan. Line graph for visualization.
Long
by SpartaBTC
2
USDCNY hit the 1DMA200 and rebounded. Clear bullish confirmationThe USDCNY pair has been trading within a Channel Up pattern since the December 15 2023 market bottom. Yesterday is completed a violent 2-day collapse and hit the 1D MA200 (orange trend-line) right at the bottom of the Channel Up. The price almost immediately rebounded, so that gives the most clear buy confirmation on the short-term. We turn bullish again, targeting a Higher High at 7.3100 (+1.39% rise). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
USDCNY Channel Up extending its rise.The USDCNY pair has been trading within a Channel Up pattern since the January 24 Low. Being supported by the 1D MA100 (green trend-line) during the past 3 months (since March 14), the price recently formed a 1D Golden Cross. As a result, we expect a continuation of this textbook uptrend, aiming at a standard +0.70% rise (similar to all previous Bullish Legs of the pattern). Our Target is 7.2875, marginally below Resistance 1. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Trade Like A Sniper - Episode 26 - CNYUSD - (8th June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions. A couple of things to note: - I cannot see news events. - I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range. - I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks In this session I will be analyzing CNYUSD, starting from the 4-Month chart. If you want to learn more, check out my other videos on TradingView or on YT. If you are interested in private coaching, feel free to get in touch via one of my socials.
Education
by Road_2_Funded
USDCNY Above the 1D MA200 and looking bullish as ever.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 expect a slow and steady extension of this rise, targeting 7.3500 (Resistance 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
🇺🇸 President Joe Biden’s Bearish Remarks on the USD vs. CNY 🇨 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 kid in high school who always had the latest sneakers and a killer mixtape. Well, guess what? The dollar’s still got swagger. 💸 2. “Yuan? More Like Yawn!” Now, let’s talk about the Chinese Yuan. Sure, it’s got pandas on its bills, but pandas don’t pay the rent, my friends. The Yuan’s like that kid who shows up to the party with a veggie platter. Nice try, but we’re here for the pizza. 🍕 3. “Quantitative Easing? Nah, We’re on a Diet!” Our Federal Reserve’s been flexing its muscles, printing money like it’s going out of style. But guess what? We’re not on a doughnut binge. We’re on a financial diet. No more QE buffets. 🍩 4. “Trade Wars? More Like Pillow Fights!” China and the U.S. have been duking it out in trade wars. But honestly, it’s like watching two toddlers in superhero costumes pillow-fighting. Cute, but not exactly world-changing. 🛌 5. “0.11 CNY/USD? That’s a Bargain!” So, rumor has it the yuan’s gonna dump to 0.11 CNY/USD. Well, let me tell you, that’s practically a yard sale price. Sell one, get one free! 🛒 6. “Zoomers, HODL Your Avocado Toast!” To my Zoomer pals: Forget avocado toast for a sec. HODL those dollars like they’re vintage Pokémon cards. Trust me, when the Yuan’s doing the cha-cha, you’ll thank me. 🥑💰 7. “Crypto? Nah, I Prefer Monopoly Money!” And don’t get me started on crypto. It’s like playing Monopoly with invisible cash. Pass Go, collect Bitcoin. But give me that real green paper any day. 💵 In conclusion, my fellow Americans, let’s keep our eyes on the prize. The dollar’s been through wars, recessions, and disco fever. It ain’t backing down. As for the Yuan, well, pandas are cute, but they won’t save your retirement fund. Stay woke, stay dollar-wise, and remember: In Joe we trust (and a little bit of Ben Franklin). 🇺🇸💪 Disclaimer: This post is purely fictional and for entertainment purposes. No actual financial advice here, folks. Consult your financial advisor, not Uncle Joe. 🎩🤝
Short
by TheTraderrr
CNY! Happy Chinese New Year! PEPPERSTONE:USDCNH Oh, I cannot contain my excitement for this year's Chinese New Year of "Dragon"! 🐉 I mean, who wouldn't be absolutely thrilled to experience the exact same joyous celebrations as last year? And guess what? The depreciation trend of CNY? Oh, it's not going to miraculously reverse itself, not a chance! It's almost as if the Chinese government's awe-inspiring market manipulation is gracefully reaching its magnificent climax. And of course, we can all look forward to those enchanting SWAP contracts being wrapped up right on schedule after Chinese New Year. It has become such a charmingly predictable tradition, hasn't it? Like clockwork, year after year. 🙃 Now, if I gaze into my mystical crystal ball, I foresee a breathtaking future for the Chinese New Year. In the short term, hold onto your hats as the price pirouettes within the thrilling range of 7.21 and 7.17. 🧐 But wait, there's more! In the mid term, it will be up to 7.36, the peak in last year. Long term, prepare yourselves for a heart-stopping ascent to the dizzying heights of 7.78 to 7.81.🧐 Of course, we couldn't possibly fathom it going any higher than that. Why, you ask? Well, it's an absolute enigma why the mother country would ever contemplate lowering the rate of the son, especially when the HKDUSD stands at a jaw-dropping 7.8. It's like an intricate puzzle wrapped in a perplexing riddle, don't you think? 🤭 Yes, the macroeconomic world is teetering on the edge of its seat, eagerly awaiting the news that will come to the rescue of the oh-so-precious property market! I mean, what else could possibly save the day? Whispers and rumors abound about lower interest rates, an astonishing metamorphosis of the 5% public housing policies into a mind-boggling 30%, and let's not forget the grand abolishment of Xi's policy, "house is for living but not for making money". 🤭 Oh, but that's not all! Hold onto your hats as only newly planned developments are bestowed the privilege of borrowing money. Isn't it just splendid? But wait, there's more excitement brewing! Brace yourselves as the government magnanimously increases their securing guarantee for property lending. 🍒 Can you even begin to fathom the magnitude of this? We're talking trillions upon trillions of USD equivalent CNY being injected into the market. It's like a magical elixir that will undoubtedly solve all the property market woes. What could possibly go wrong under Xi's visionary policy? 😛 Ladies and gentlemen, get ready for a spectacular show this year. It's going to be one for the books! What are we waiting for? Wish all luck with you. HAPPY LUNAR NEW YEAR! 😛
Long
by RedCranePunch
USDCNY RSI Bullish Divergence calling for a buyThe 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 the Higher Lows trend-line that the 1D RSI has been trading on since November 21. During that time, the price is on Lower Lows, which from an RSI perspective is a Bullish Divergence. At the same time, the pair just formed a 1D Death Cross, the first since February 03 2023, which was on the previous long-term market bottom. What followed after that was a 1D MA100 test (green trend-line). Since we are already on a small rebound, we will buy after a 1D candle closes above the 1D MA50 and target 7.2200 (projected contact with the 1D MA100). Then if the price pulls back and as long as it is above the 1D MA50, we will buy again and target Resistance 2 at 7.2975. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
BTC INDEX against 5 biggest adopters if we take a look at btc against the countries which traded the btc mostly. to take out the inflation and market noise. we need to look at the chart with 5 major countries which are buying and selling bitcoin in their local currencies. CNY, INR, PKR, NGN, EUR so if we average out these currencies we will get a value and then we divide btc with that value we will get the local avg price. not everyone is looking at us dollar chart. sometimes we need to look at the bigger picture. i have also multiplied to 148.68 to get actual value of btc to get clear understanding. we can already see that btc already tested the local 2019 top. which means we might already have bottomed out.
BITSTAMP:BTCUSD
by Bitsleader
USDCNY Strong Support on the Channel UP and 1D MA50.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 Fibonacci extension (TP = 7.4850). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
USDCNY Topped on Head & Shoulders or Channel Up extension?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 (H&S) pattern. If Resistance 1 (7.3300) breaks again, then this pattern gets invalidated and we will expected a test of the dotted line at 7.4000. On the other hand, a break below Support 1 (7.2450) but more importantly the 1D MA100 (green trend-line) that has been supporting since April 19 2023, would be a sell signal towards Support 2 (7.1225) and the 1D MA200 (orange trend-line). Notice that the 1D RSI has been trading below a Lower Highs trend-line and on the H&S Head made the most recent contact. A similar RSI pattern can be seen in 2022, whose price action also formed a H&S pattern that was eventually a big sell signal. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
China Yuan Demise, China Demise, Ray Dalio CNY Reserve Currency? 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 longer reporting jobless claims / unemployment figures (Source at the bottom) China DEBT to GDP ratio is also going parabolic chances are it will pass even the USA. Conclusion China and the Yuan is on its way out and the China age is looking more over than ever. What's the next reserve currency? Not the Yuan that's for damn sure. What's left? Russia with BRICS & Bitcoin is still there just hanging around. www.reuters.com
SSE:000001
by FederalXBT
Chinese Yuan Price Action Setting Up For a Potential CollapseWe have a huge Void below us and the Yuan has Rallied away from this Void before, but it appears to now be making a Lower High with Hidden Bearish Divergence on Both the RSI and MACD; If the Yuan Breaks Below the B point of this Potential Crab BAMM which also happens to be The Confirmation Line of what would then also be a 3 Falling Peaks Pattern, we will very likely then see Downwards Acceleration Towards the 1.618 Fibonacci Extension Below to Complete the Harmonic Pattern
Short
by RizeSenpai
2
USDCNY Approaching a 2 month Resistance on overbought RSI.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 Friday for the first time since February 24. If it closes a 1D candle above Resistance 1, we will buy and target the top (Higher Highs trend-line) of the Channel Up at 7.0500. Until then we will sell those overbought indicators and target the 1D MA50 on the short-term and if it closes below the Inner Higher Lows, then sell more towards the bottom of the Channel Up. If the price closes below Support 1, then long-term sell targeting Support 2 at 6.7000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
6
USDJPY Headed lower? The case for Japan to thriveFirst 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 few weeks at least. The China Yuan trading BLOC is becoming a larger problem for the USD every day. At some point Japan has to survive and we might see their choice to adapt to the current climate of world finance begin to help their currency decouple from its standard trading range channel that its been comfortable in for decades. Japan is positioned well in all things except agriculture and typically that would be where the USA would come to the table for trade talks. Unfortunately the USA market for foreign automobiles is not what it used to be and China is looking anywhere it can to establish new trading deals. China could easily steal a good market share of our Japan agriculture trade without Japan fearing much retaliation from the USA in doing so. Japan has already signaled to the world that they will be comfortable pivoting a portion of their trade deals and currency settlements if need be. That is the basis of my idea that the USDJPY is headed lower and towards a stronger JPY. I look for 131 in the immediate short term and 126 before we try any significant reversal if any at all. This is just what i see and I am just documenting my own ideas for myself. DYOR.
Short
by TheStockMarketSniper
'Can China’s Long-Term Growth Rate Exceed 2–3 Percent?' SummaryThis is a summary of Michael Pettis' 'Can China’s Long-Term Growth Rate Exceed 2–3 Percent?' carnegieendowment.org As the text was quite long, this summarizes some critical points. China's high investment share of GDP and growing debt burden are interrelated, stemming from an investment-driven growth model that began in the 1980s when the country needed significant investment in infrastructure, urban property development, and manufacturing facilities. High domestic investment required high domestic savings, leading to a rapid savings increase by constraining household consumption and income growth. Policymakers now recognize the need to rebalance China's economy towards domestic consumption. High investment levels initially benefited the Chinese economy, as productive investment grew at the fastest pace in history. However, a successful development model should make itself obsolete, and China has closed the gap between its actual investment level and the level its businesses and workers can productively absorb. As productivity benefits of additional investment decline, more investment begins to generate less economic value than the value of employed resources. This can be observed in China's increasing debt numbers. Countries that followed this growth model experienced a period of rapid, sustainable growth with stable debt levels, followed by a period of rapid, unsustainable growth driven by a surging debt burden. China entered this phase around fifteen years ago. Therefore, the investment share of China's GDP must decline sharply in the next few years, as the conditions that made high investment levels sustainable no longer exist. Historical precedents suggest that reducing the investment share of GDP to a sustainable level is better for the economy's long-term health, growth, and stability. In this context, rebalancing the Chinese economy will require significant adjustments in its economic structure. Beijing must focus on boosting domestic consumption, though this would likely result in a decline in China's annual GDP growth to around 2-3 percent for many years. The current investment share of GDP is extraordinarily high, making it difficult to reduce it without significantly affecting overall economic activity. Policymakers in Beijing have increasingly called for an expansion in the role of consumption, but there are significant political constraints in implementing such policies. Rebalancing would require consumption to grow faster than GDP and GDP to grow faster than investment. This implies transferring income from governments and businesses to households, a process that has not yet seen concrete proposals. The decline in growth will be unevenly distributed, with local governments bearing the brunt of the adjustment while ordinary Chinese people experience less impact. This also means that sectors of the global economy that depend on Chinese investment growth will be more affected, while those reliant on Chinese consumption will be less impacted. China's investment share of GDP currently stands at around 42-44 percent, which is unsustainable in the long run. For the purposes of this analysis, it is assumed that China should reduce its investment share to 30 percent over ten years, a level typical of rapidly developing economies. As investment declines, the consumption share of GDP must rise. Michael presents five scenarios under which China can rebalance its economy: A. Rebalance with a surge in consumption: China's consumption would need to grow by 6-7% annually, while investment grows by 0-1% annually, resulting in a GDP growth rate of 4% over ten years. However, this requires politically difficult income transfers from local governments and wealthy individuals to households. B. Rebalance while maintaining current consumption growth rates: Consumption growth would remain at 3-4%, with investment contracting by 1-2% annually. This would lead to an average annual GDP growth rate of 1.5% over ten years. C. Rebalance with a sharp decline in consumption growth: If consumption growth drops to 1-2% annually, the investment must decline by nearly 3% annually, leading to flat GDP growth. D. Rebalance with a sharp contraction in GDP: This scenario involves a short-term, severe GDP contraction but is considered politically disruptive and unlikely. E. Rebalance over a much extended period: If China takes 15-20 years to rebalance, with consumption growth at 3-4% annually, GDP growth will drop to 2% and 2.5%, respectively. Key points include the limited ways China can rebalance, the difficulty in maintaining a high investment share indefinitely, and the necessity of a surge in consumption growth for a more balanced economy. Rebalancing will involve slower GDP growth without faster consumption growth, driven by significant and politically challenging income transfers. In conclusion, China's rebalancing process will require significant adjustments in its economic structure. The country must reduce its reliance on investment and increase the role of consumption in driving growth. However, the political constraints and the impact on various sectors of the economy make this a challenging task for policymakers. The five scenarios presented illustrate the complexities of the rebalancing process and emphasize the need for a well-thought-out and carefully executed strategy. China's future economic health depends on its ability to navigate these challenges and transition to a more sustainable growth model. Beijing must strike a delicate balance between addressing political constraints and implementing policies that promote consumption growth while minimizing the negative impacts on various sectors and local governments. Moreover, the global economy is intricately connected to China's growth trajectory. As China undertakes the rebalancing process, the repercussions will be felt in sectors reliant on Chinese investment and consumption. Businesses and governments worldwide must closely monitor the situation and adapt to these changes. This analysis highlights the importance of understanding the complexities of China's rebalancing process and its implications for the Chinese and global economies. As China grapples with these challenges, the world must brace itself for the changes arising from this monumental shift in the world's second-largest economy. Only time will tell if China's rebalancing efforts will successfully pave the way for a more stable and sustainable economic future.
CAPITALCOM:CN50
by BitcoinMacro
USD vs CNY US Dollar vs Chinese Yuan Q1 Currency War Thoughts!The Background & Info: At the end of Q1 we have seen the usual crazy headline packed news cycle that we all have become accustomed to since 2020. Strange news, wars, meme realities and conspiracy vindication are now the new normal. You might have missed it in the news cycle, due to all the chaos, but the Chinese Yuan ( CNY ) has made some HUGE waves throughout the world by announcing the settlement of Saudi Arabia's purchase of gas from Russia. It appears that China is taking a page out of the USA playbook by being seen on the international stage trying to broker peace in a proxy war it appears to be funding in a foreign land, aggressively disrespecting nations borders with its airspace violations and spy equipment and, if all that was not enough of a copy cat move, they now have moved forward with courting Saudi Arabi into its BLOC countries that have agreed to swap their trade settlements from the USD to the CNY . It appears Long gone are the days of China shouting threats from the confines of the Forbidden City ( not Forbidden Garden ) walls. They now seem to be taking center world stage and with the Ukraine war and the Saudi Arabia agreement. This will allow them to continue their campaign of world influence peddling and open the doors of Europe to them as a proxy negotiator for Russian Oil & Gas as well as alternative trade settlement base, military assistance, and other one off trade alliances. Truly a wolf in sheep's clothing is now knocking on the doors of Eastern Europe. Europe is one of the few areas of the globe that China currently does not have a good foot in the door. In Africa and the Middle East they own the majority of rare earth mineral rights & mines, In Asia and America they control the tech and manufacturing sectors. Now they are taking on Global Policing and Influence that will lead them into Europe in 2024. Is this the END of the US Dollar being the currency of the world's economy? How is the Chinese Yuan stacking up against the US Dollar today? Well.... What does the Chart Say: My charts are telling me that historically the USD is a powerhouse and has had MANY moments of retracement while maintaining a VERY bullish uptrend. Support is EVERYWHERE for the USD and the world economy understands better than we the citizens do, that USA policy and leadership change every 4-8 years. The recent gains of the Chinese CNY BLOC should have crippled the USD but instead it merely dipped it back to the mid range of its upward bullish trading channel. SUMMARY: I would refuse to bet against the USD and I don't see any significant trading opportunities arising from this over the short term. However, if the Chinese continue to play the world police and peace broker on the world stage then other countries and other settlements will strengthen the BLOC alliance and that WILL have a noticeable effect on how the USDCNY trades. I would suspect that IF more significant trade partners join the BLOC and China continues its mature world stage presence, that the USDCNY would end up looking to trade between 5.5-6.25 this time in 2024. But if the USA gets back to world leadership, makes a strong presence felt on the world stage, then I would look for USDCNY to continue is current trading channel and its bullish uptrend. THIS is just me documenting my own thoughts on the matters at hand. Do your own Research.
Long
by TheStockMarketSniper