Yuan spread at dangerous levelIt must turn north here for stocks to continue higher $USDCNH, $SPY, $DJIA, $FXI
CNYUSD trade ideas
USDCNY - 240 - Just a quick shout-outTrade Alert
USDCNY is flagging out, there is a chance to see a continuation of the uptrend. That said, before examining the upside, first, we need to see a clear break and a close above the upper side of the potential flag formation. Only then we may get comfortable with the upside.
If the pair breaks lower, before aiming further down, we would need to see a drop below approx. the 6.862 zone.
Please see the chart for levels and targets.
Don't forget your stop-loss.
U.S. Dollar / Chinese Yuan to SELLMarket in the overbought region.
Time your entry right.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
USDHKD PEG and the Chinese Currency..Unsurprisingly, right as the USDHKD Peg hit it's 7.85 limit, China lost its ability to prop up the Yuan, and the Yuan started to fall once again. This is further confirmation that the Yuan is subject to dollar pressure, and Hong Kong is China's "release valve" for dollar funding pressures. When the peg gets hit, the CCP has a difficult time keeping the RMB afloat.
Yuan going to year low?China Debt Indicators
New Yuan Loans Jumped $481 Billion
Shadow financing up first time in 11 months
Interbank borrowing at 6 month high
1800+ new trust products sold this year
Banks +22% wealth-management products
Margin debt in the stock market surged
U.S Dollar and Yuan Hi, CNY hits seven-months high as it retains its two consecutive days' win against USD. The CNY/USD rose to CNY6.6874 per USD1, recording the highest since 17 July.
The last two days projected a bullish engulfing as seen on the big candlestick during the last four-hour timeframe. Before the big drop from CNY6.7321 to lowest wick at 6.6887.
EMA50 was seen moving above the EMA20, showing a constructive bear trend. However, this could be reversed and show a strong rebound on the Yuan through China's proposal on USD30 billion for US agribusiness purchases.
At least bearish in short term2 scenarios
1. correction is done and started to resume lower
2. complex correction to make new high before lower.
as long as it moves below recent high, it can extend lower.
EURUSD & USDCNY correlation / US-China trade dealFX:EURUSD FX_IDC:USDCNY
Food for thought; A stronger USD/CNY -> weaker EUR/USD
We are currently seeing weaker USD/CNY and a stronger EUR/USD
When/if the US-China reaches a trade-deal, I will buy the hell out of EUR/USD. Thats a no brainer
CNY/USD - LongTechnical breakout, buy order triggered at 0.1465
May want to wait for a small retrace to look for entries and scale into position.
Use appropriate stop loss and risk management according to your own tolerance.
This is not trade or investment advice, it is merely observational and intended for informational purposes only.
You are responsible for your own actions.
Happy trading.
CNYUSD has completed the formation of BATCNYUSD has almost completed the formation of BAT insha Allah and now it is in a sell area.
Regards,
Atif Akbar (moon333)
Tough pair technical analysis (USD/ChiNeese Yuan)So there is a trend, my nennotame about corrections and some tradingview instruments, let's see outcomes
USDCNY OutlookWill be very interesting to watch longterm trend of USDCNY. rising interest rates and the contionous USAvsCHINA trade war has many people worried on the outlook of the long term Ameircan economy. where do you think the market it is heading? to watch for companies it will be interesting to see if Amazon can branch out in the heavily dominated Alibaba chinese market.
USDCNY bullish long termFA:
- FED hikes,
- China exporting its inflation,
- Emerging market crisis.
TA
- bullish formation.
Ascending Broadening Wedge is calling for a Potential ShortAs you see there a being formed a ascending broadening wedge. Stop and TP areas has been showed.
USDCNY - Daily - Neutral... For nowUSDCNY started moving south in the end of last week, but quickly found support near 6.8685 zone and retraced back up above the short-term upside support line. That said, we will remain cautious and for a confirmation brake through one of the highlighted areas, before we take any action.
Please review the chart for details.
Don't forget to have your SL in place.
Some Insight on the Trade War with ChinaHad some Trump Trade Politics come out this week about ‘eminent progress,’ being made with China on trade just before the November Elections. This was denied by all sorts of Washington insiders, but begs the question, when will we see some sort of resolution on trade with China?
I think it would be great for China to evolve from being a Globalist/Corporatist New World Order TOOL to switching to a stance of Integrity and Honor, dealing fairly with their trade partners, improving the standard of living in China, and forsaking the evils of Mercantilism. Literally Everybody, except the NWO, would be better off if they did this, but that would represent a cultural change for China, switching from their own insular little world, and taking advantage of those around them, to standing as a contributing member on the larger world stage.
Fundamentally what do we know? We know Xi and Trump are meeting in December, and that a quarter trillion dollars’ worth of trade is going from 10% to 25% in January. We also know Trump is going to slap tariffs on the rest of China’s exports at some point due to lack of progress.
Technically, looking at the Long-Term picture, the USDCNY is in the C Wave of a rising Running Flat, making a measured move that would take prices up in the 7.15 to 7.20 range. We also know that this move would complete an even higher degree B wave. In Elliott Wave flat corrections there is often a time relationship between the corrective waves. If the B and C wave as shown are added together, it would be close in the length of time to the A wave.
