Even fundamental analisys seems that China is not going to be the next world leader in few years, because current bullish trend is about to be broken
Apart from the very aggressive increase in interest rates by the US central bank (The Fed), the recession issue has also made the US dollar a safe-haven choice. The Fed until last June has raised interest rates 3 times with a total of 150 basis points to 1.5% - 1.75%. This month, the world's most powerful central bank will again increase by 50 - 75 basis points,...
Asian shares erased early losses in Tuesday afternoon trade, as signs that China's economic pain may be gradually easing amid the easing of COVID-19 restrictions overshadowed broader investor concerns about a global inflation shock. Also lifting sentiment in the Asian region were details of Beijing's new policy support, which includes cash grants to hire fresh...
A nice set-up for CNY depreciation against dollar. c wave of (b) is almost done. China/Taiwan conflict might trigger that.
The US Dollar is making a move against the Chinese Yuan after months of consolidation. USD/CNH took out a year-long falling trendline, as well as the 6.3941 - 6.4107 resistance zone. This marks the highest close since October. Further upside confirmation could perhaps hint at a turning point for the almost 2-year long downtrend. A bullish crossover between the...
13 Chinese cities have been in total lockdown since Tuesday, and several others have been in partial lockdown. The Chinese government reported that there were around 15,000 confirmed cases of Covid-19 nationwide in March. Chinese health officials have urged people over 60 to get vaccinated - including a third booster ASAP. Technically we can see the limits of...
Expect a more strong Yuan push rate to 6.26 support area. Currently in a strong downward trend.
the Renminbi has been very strong against the Euro throughout the year. I expect a reversal as PBOC announces new monetary easing policies every day while ECB becomes increasingly hawkish.
1h time-frame: end of fifth wave of Elliot. heavy fibonacci cluster. 15m time-frame: double bottom and trigger. RSI and MACD positive divergence. RD+ buy at: 6.6970 stop loss: 6.6770 tp1: 6.7120 tp2: trailing
The trend is trying to shift its prevailing direction seeing the price action making lower highs. Might fall around the older support zone.
On the technicals there is little to update while the resistance holds, despite the bounce via PBOC intervention on coronavirus risk flows. The only level in play to the topside is 7.0248 as it caps the highs in the current wave. Anything above will unlock a leg towards the next barrier at 7.0733. The coronavirus short-circuit sadly temporarily disrupted the...
USD/CNY: Two detailed bullet points ; Series on Currencies(feedback's always welcomed) - 7th of December 2019 First of all, this chart is simply a guide on how to analyse Dollar:Renminbi as a trade war proxy. As there are many economic variations and possible outcomes for 2020 at this point in time, I will not give recommendations for this chart. These are...
A good time to update the CNY chart with US away from their desks for thanksgiving. Both sides rolling back tariffs means that CNY has unlocked the gates for a retrace towards the key 76.4%. On the monetary side, updates from PBOC who continue sitting on the bid and are unlikely to change stance and keep CNY strong against the crosses, and as long as this...
A temporary truce in the trade war was announced. Well, of course, a “truce” is not the right word we prefer a “pause”. The appreciation of the renminbi, as well as the decline in the VIX Index, are further evidence of tensions easing in the financial markets. Against this background, we again pay attention to the sale of gold. But we note that sales with the...
Only valid for Chinese people. If you want to keep your wealth. You need physical gold. I don't understand the macro economy. I think the trade war is long-term and he will exacerbate the devaluation of the renminbi. If you are a Chinese compatriot. I hope you are lucky.
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...
Waiting for a bounce back to broken support for before more declines to 6.69
Wait for the price to complete the continuation pattern that it's forming and watch strong price action for buy. Don't take any trade if you don't see clearly when big guys are in.