As a result, China central bank have been defending the value of its currency from further weakness especially with the strength of the USD. Its current USDCNH-Offshore rates stands @6.98 high and is trading to this writing @6.85 corrective move as the Chinese Renminbi gains ground from a slightly weaker USD.
The USD - DXY twice registered @103.65 / 85 high and have recently met profit-taking from the previous Jobs data and is currently working @101.00 figure as of this writing. However, the corrective phase was expected as soft #'s prevailed and the positioning for the first two weeks of the new year have given traders & investors time to review what the market particularly in stocks would look like. The same manner that we do each opening weeks of the new month this January 2017.
Premium Access to continue
#TSOT - A Classic B/C Formation - #AUDCNH Cross Rate
This is where trading can turn into value Investing as the market changes hands every now so often. Knowing when to shift gears and ensure a protective stance against adverse price fluctuations can build a strategy to remain UNBIAS in the market place.
ReplyDeleteAs the AUDUSD remains at positive territory influencing the AUDCNH cross rates at this time.
ReplyDeleteAUDCNH as a carry-trade since April 16, 2016 has again proven its worth a simple long term investing strategy that started out as a mere speculative move over a 9 month period to date. Until such time the USD price recovery can be defined.
ReplyDeleteLink: https://megatrade101.blogspot.com/2016/04/brief-insight-established-trend-audcnh.html
AUDCNH is @5.18 from our last entry levels @4.85/90. And now a completed form of the "HANDLE' where the next leg higher range is expected to break through as shown on the 2nd figure cloud chart
link: https://www.tradingview.com/x/0x7ljkX8/
PRICE UPDATE: AUDCNH trading at 5.32 as the AUD continues to gain its strength. This is where a speculative position then has turned into a position investment as value of the Aussie gains from USD weakness; basis from a 103 -102 -100 price slide dominates the market sentiment.
ReplyDeleteCopy link: https://plus.google.com/u/0/+JSTAlexander/posts/7qqjV2reMR1
It pays to know when to keep a position other than a consolidation from the stock market. Nothing can beat the liquidity and volumes in trading the Aussie and AUDCNH Crosses with the Interbank market. Using market shift as an advantage in trading alternative global markets.
ReplyDelete