CNH
USDCNH: Head And Shoulders pattern is in the makingThere is a reversal H'N'S pattern is in the making.
Watch breakdown of the Neckline.
Target is set at the distance of the height subtracted form the Neckline.
Invalidation is above the Head of 7.1959
aud cnh long timelong here with stop as shown - 15 minute strong candle to resistance likely to break out and up ! :smiley:
USDCNH should complete correction before another rallyThe pair took a pause before another rally and this could mean the bad news for the global trade.
Onshore/Offshore RMB (CNYCNH) approaches 2015 highOnshore/Offshore RMB (CNYCNH) spiked above 1.017 since late 2015 and early 2016, suggesting that capital is leaving Mainland China.
BTCUSD - CNHUSD Correlation in short termHigh positive BTCUSD - CNHUSD correlation in short term.
Beggining to fade or suffering a temporary disconnection.
Also of note, CNH was leading, now it shifted and BTC seems to be leading CNH.
based on idea from @martinlukeaof
twitter.com
USDCNH correction over, trend resumes Here we are coming to the end of the corrective wave within the underlying bull trend. The time has come to start getting to work on the top-side here again, this is a move we have been tracking for some months (see attached).
We are going to be exploring the speed limit of the dollar over the next few months so buckle up and get ready for some very large moves across FX . Like the rest of the USD board, markets have been corrective and now is the time to re-establish upside exposure. Initial targets for the weekly move come in at 6.97 .
There is scope to continue as far as 7.10 and 7.20.
Best of luck those who are navigating around the US-China trade flows.
v.1.1 May 2019 Recovery from Market Dip Thanks to Old CommunistsRecovery from the 2019 May dip in global equities markets from the hard work of Communists (current and ex)... ? China equities and the Chinese government actions on the Chinese yuan ( CNY ). Russian equities and the Russian ruble (RUB). And also JPY and Gold.
Can you afford to ignore the Renminbi rally? NO!What happened last time...:
Clearly, we hit a very strong support...
What's this? It's a Bird...It's a Plane... NO! It's the Chinese Renminbi making a double bottom on the monthly chart! And a higher LOW! WOW!
The US are turning socialist and the FED have DESTROYED the us dollar. It is getting abandonned.
China is becoming a TITAN and the Yuan is a new PARADIGM! The new worldwide monetary system.
Those that do not buy a whole lot of little yuans now or soon will regret it for the rest of their lives.
China on the move, strikes a blowLooks like China's on the move by devaluing their currency against the dollar.
This looks to me to be further escalation.
Bloody Friday in US equity markets tomorrow?
USDCNH: Calm Before StormThe pair is in a consolidation, which looks like a triangle.
It will shoot up and could reach 7 handle.
USDCNY ready for (at least) small run upprice looks like its bottomed out on the weekly. An ema bust would definitely confirm bull trend again. Looks good for at least a measured move up. Could be more but can't tell yet.
Year of the Bull? Not according to the fundamentals...With large account deficits, disinflation and widening interest rate differentials there are many reasons to not be bullish China.
Whilst on the political side there is a desperate need to keep CNY stable and stronger because China needs to attract capital inflows for the second half of 2019.
Why?
Because they are trying to facilitate the process of inclusion in equity and bond indexes to make China more attractive for FDI.
Risks to this trade are for deterioration in Chinese macro data and if equity markets sell-off.
Best of luck all and thanks for keeping the support coming with likes, comments, follows and etc.
Buying the dip in USDCNHHere we are getting very close to the moves and trading the initial breakup in this final 5th wave on the large timeframes (see attached: "Adding upside exposure on a correction" for more details on this count).
Dollar strength is coming to our screens, time to position.
Best of luck
NZDCAD about to make new lows (TA and FA)According to the elliot wave theory, FX:NZDCAD . is at its correction phase, and using the fib extension we get T1 for the small ABC wave and T2 for the bigger wave; T1 is short term while T2 is mid/long term
Another thing to keep in mind, is that China is expected to report on Monday that economic growth cooled to its slowest in 28 years and this means that CNH is going down and we all know that CNH is positively correlated to both AUD and NZD.
CHFJPY approaching resistance, potential drop!
CHFJPY is approaching our first resistance at 112.707(horizontal swing high resistance , 76.4% Fibonacci retracement , 61.8% Fibonacci extension ) where we might see a drop in price to our first support at 108.082 (horizontal swing low support, 61.8% Fibonacci retracement. 100% Fabonacci extension ).
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