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...
CME: USD/Offshore RMB ( CME:CNH1! ) Even though the Chinese Yuan is not a component in the US Dollar Index, Dollar-Yuan exchange rate generally tracks the dollar index. If dollar gains in value, most foreign currencies depreciate against it, yuan included. When dollar is weakened, the opposite holds true. Foreign currencies appreciate relative to dollar. ...
The Chinese yuan, also known as RMB, is the official currency of China. It is used both onshore in mainland China and offshore in international markets. The offshore yuan, also known as the CNH (Chinese yuan - Hong Kong), is the version of the yuan that is traded outside of mainland China. It is traded in offshore financial centers, such as Hong Kong, Singapore,...
CME: USD/RMB Futures ( CME:CNH1! ) US-China relations are arguably the most challenging bilateral relations in the 21st century. It has been in a free fall since the 2018 trade conflict. The competition has intensified and spread to investment, technology, among other arenas since then. On November 14th, 2022, President Biden met with President Xi during the...
A few months ago, I proposed USDCNH/USDCNY consolidating for a bit and then going higher, as such strong moves usually follow through. The Chinese economy looks extremely weak for multiple reasons, and I see no way that the CNH/CNY won't lose much of its value relative to the dollar. Technically it is ready for another strong move higher, and the fact that Pelosi...
The US dollar-Chinese yuan pair ( USD/CNH ) has been trading on a bullish pennant pattern since April of this year, and is currently testing the critical 7.00 threshold, which corresponds to the close of July 2020 and 78.6% Fibonacci retracement level (2022 lows to May 2020 highs). Following the PBoC's decision to reduce Chinese domestic banks' forex reserve...
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...
Bought USDCNH. This position is consistent with my bullish $USD thesis. Chart shows it is a good risk-reward. Macro backdrop supports it. God Bless! Chief
Republishing this from my USDCNY post. 1. Head and Shoulders pattern 2. MA's + PA show a bottoming pattern 3. China will devalue the Yuan (Remnimbi) 4. Dollar $DXY will go over 106 5. Gold $XAUUSD will go below $1,500 oz. 6. Silvere $XAGUSD will go below $15 oz. Trade idea related to this currency pair that goes through other macro factors twitter.com 10, 20,...
1. Head and Shoulders pattern 2. MA's + PA show a bottoming pattern 3. China will devalue the Yuan (Remnimbi) 4. Dollar $DXY will go over 106 5. Gold $XAUUSD will go below $1,500 oz. 6. Silvere $XAGUSD will go below $15 oz.
The strength of the Chinese Yuan and equity markets appears to be correlated due to the Chinese's increased trade presence and credit expansion. If price action continues to push below the 200 day EMA we could be likely looking at a bear market. Could the dollar milkshake theory prove to be correct? Only time will tell. (Dramatic music engage)
Morning coffee makes a day.
Hey friends hope you are well and welcome to the new update from the forex market. The Chinese Yuan has completed the bullish setup and ready to move up against US Dollar. In today's article we will watch the different chart patterns and indicators that are giving signals for the bullish movement of an Chinese Yuan. A big falling wedge: On long term monthly...
It appears that the Chinese Yuan is to devalue (much) more. Fundamentally, the Chinese governement is coming up with countermeasures to offset the effects of the SARS-CoV-2 virus outbreak; which has also disrupted global trade activities. Technically, the USDCNH chart is on the verge of a break out, with MACD and OBV poised for support. Target for USDCNH is 7.15...
As a result of the trade war and trumps latest tweet China is currently devaluing the yuan. It's now above 7yuan/usd. I imagine this might promt some chinese millionaires to want to buy BTC due to fear. I'm seeing some correlation in when there is fear in the Chinese Yuan through devaluation. Is this causing a Bitcoin bullrun? The circled section conflicts...
Just minutes ago, Reuters reported that Lightheizer and Mnuchin are going to Bejing for talks. However, trade war detente is now not on the table until June. Trump threatens to keep tariffs on if China won't hold up their end of the deal on intellectual property. Honestly its not looking good. It is difficult to tell if this trend will continue to go negative and...
For many conspiracy theorists familiar with the cover of an edition of The Economist from 1988, the 10/10/2018 is significant for being the date when a new world currency will be ushered in. It seems instead the date that traditional stock markets come tumbling down, with DJI down 1,300 points over the past two days and many other stocks following suit. China's...
Since the start of the trade war between the US and China, the Chin. Yuan has already depreciated by 8% against the US dollar. This will make Chinese products cheaper and thus cushion the US tariffs. At the same time, all US products will be 8% more expensive, plus tariffs. At the same time, US dollar-based loans are becoming more expensive and are likely to...