USDCNH : Potential 3 of 3Following up on the development, if the count is valid, the exuberant downside thrust should occur fulfilling its fifth way down in its primary degree.
USDCNY, DailyBeyond recent changes in monetary policy, the yuan has received some support from news that major Chinese banks have been actively selling dollars to try to support the currency. The market is waiting for further details on the fiscal stimulus announced last month.
The 38.2% weekly Fibonacci retrac
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.
YUAN - USD, Correlation with BitcoinA part from 2019 when monetary conditions were actually similar to today (FED first cut), the chinese Yuan and USD chart has been a good indicator for BTC/Crypto price action.
Pray that this time things are going in the right direction, with the USD losing purchasing power, China printing, and Cryp
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 res
CNY/USD is trying to tell us something Note as the CNY/USD broke to the upside and its LMACD line started oscillating above the 0 line which is a bluish sign, BTC started the parabolic phase. We might follow this pattern this time
Goldman Sachs Predicts China's Central Bank to Cut Reserve RequiGoldman Sachs analyst Hui Shan expects China's central bank to reduce the reserve requirement ratio (RRR) in the third and fourth quarters, aiming to manage the decline in long-term yields. This move comes in response to rising bond prices and weak aggregate demand. The People's Bank of China (PBOC)
USDCNY : Another angleThe setup for the AB=CD appears to be showing up too. The confluence of the different methodology expressed may entice one to look closer.
CNY : Interesting Setup Note the wave relationship panning out to a high probable Primary Wave 4 (0.618 retracement) and fitting within the parallel channel while resisting at the upper channel reinforcing with a potential double top is something worth looking out.
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
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Displays a symbol's price movements over previous years to identify recurring trends.