USDCNH uptrend continues after key level penetrated!
First of all, my previous idea regarding USDCNH is right. Now, the momentum to the upside is strong with key zone penetrated.
Secondly, after 11% drop since May of last year, 5% rebound is likely to happen(50% fibonacciretracement).
Thirdly, the pair might got issues around 6.67 which happens to be the Flip level.
It is not good news for Chinese assets, e.g. HK stocks, mainland stocks. The hiking US 10Y yield along with a stronger dollar and uprising crude oil price will weigh on the emerging market assets. Outflows might occur and further drop is expected around the corner.
Things aren't bad if we already have expectations for what might happen! Cycles all the time! After the correction, funds will come back given the strong economy growth of China in 2021 and 2022.
Secondly, after 11% drop since May of last year, 5% rebound is likely to happen(50% fibonacciretracement).
Thirdly, the pair might got issues around 6.67 which happens to be the Flip level.
It is not good news for Chinese assets, e.g. HK stocks, mainland stocks. The hiking US 10Y yield along with a stronger dollar and uprising crude oil price will weigh on the emerging market assets. Outflows might occur and further drop is expected around the corner.
Things aren't bad if we already have expectations for what might happen! Cycles all the time! After the correction, funds will come back given the strong economy growth of China in 2021 and 2022.
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