The 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,...
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 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...
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...
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...
- 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...
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...
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...
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...
We 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...
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...
EUR/CNY Short Targets - Bearish Harmonic The EUR/CNY pair is currently exhibiting a bearish harmonic pattern, indicating a potential downward movement. As per algo analysis, downside targets are shown on Chart. Enjoy!
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...
This 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...
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...
Recent moves in risk assets like Eth and BTC have been nearly 1:1 correlation with offshore Chinese Yuan strength. A new narrative is building where the west is in a credit contraction period while China is credit growing. This is due to more stringent credit policies after recent small bank failures in the US. Given BTC and ETH deep correlation with...