USDCNH: Interesting intermediate and long term signals
Mis à jour
In this thread I'll study the relationship between the offshore yuan and other FX pairs.
We have two signals here, a monthly one aiming at 6.72254, to be reached before August 2016, and a daily one pointing to a very vicious decline towards 6.23893.
What's interesting here is that usdcnh seems to be a good leading indicator to trade the Aussie dollar and other Asian theater currencies, naturally. I choose AUDUSD because it's the highest liquidity one and it's part of my portfolio, but do your due diligence with this phenomenon.
As for the Yuan, in the long term, it's probable to see continued devaluation of it, and an uptrend in the USDCNH and USDCNY pairs, for fundamental and technical reasons, unless there is a very significant paradigm shift that changes the macroeconomic dynamics at play.
This projected selloff in the USDCNH should serve as both an interesting speculative play, and a good opportunity for individuals seeking to convert their Yuan for Dollars or other currencies as a risk off measure.
Good luck sailing this volatile waters, this is a great time to be a trader, so, don't pass on the opportunities that will arise in the coming days.
Regards,
Ivan Labrie.
We have two signals here, a monthly one aiming at 6.72254, to be reached before August 2016, and a daily one pointing to a very vicious decline towards 6.23893.
What's interesting here is that usdcnh seems to be a good leading indicator to trade the Aussie dollar and other Asian theater currencies, naturally. I choose AUDUSD because it's the highest liquidity one and it's part of my portfolio, but do your due diligence with this phenomenon.
As for the Yuan, in the long term, it's probable to see continued devaluation of it, and an uptrend in the USDCNH and USDCNY pairs, for fundamental and technical reasons, unless there is a very significant paradigm shift that changes the macroeconomic dynamics at play.
This projected selloff in the USDCNH should serve as both an interesting speculative play, and a good opportunity for individuals seeking to convert their Yuan for Dollars or other currencies as a risk off measure.
Good luck sailing this volatile waters, this is a great time to be a trader, so, don't pass on the opportunities that will arise in the coming days.
Regards,
Ivan Labrie.
Note
Working beautifully so far, but might expire and turn into a long soon.Trade fermée manuellement
Downtrend failure.Trade fermée: cible de profit atteinte
Note
Long term uptrend time has expired, we could go back down to the mode.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.