USDCNH Looks Bearish in the Midst of a Trade War

Less than a month ago USDCNH rose to 6.9621 and it looked like reaching a new multi-year high above 7.0000 was only a matter of time. Unfortunately for the bulls the market chose otherwise. USDCNH fell to 6.8164 on the last day of June. As of this writing, the pair is hovering around 6.8755 following…

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USDCNH Before and After Trump’s Tariff Threat

The negotiations between the two biggest economies are not going as well as investors hoped. Stock market indices are down across the board following President Trump’s new China tariff threat. Another side-effect was the sharp rally to over 6.82 in USDCNH. And while Trump’s tweet about China did, indeed, trigger the surge, the actual reason…

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USDCNH Elliott Wave Pattern Points to Recovery

Less than five months ago, on November 1st 2018, the U.S. dollar climbed to 6.9806 against the Chinese yuan, following a sharp rally from as low as 6.2359 in March. Unfortunately for bulls, USDCNH couldn’t maintain the positive momentum. As of this writing, it is hovering around 6.7200. In order to find out if the…

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One Big Problem with USDCNH’s Uptrend

The U.S. dollar has been in a strong uptrend against the Chinese Yuan since mid-January, 2014. In less than three years, USDCNH climbed from 6.0150 all the way up to 6.8494 so far. After such a massive gain investors might start to think it is a good time to join the bulls. Unfortunately, no trend…

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