FXCM/DailyFX Signals and Strategies

Quoting Jason Rogers

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http://i.imgur.com/UU6fhXW.png

The 6.3000 is a possible target on further Yuan weakness. A stop can be set below the April 9 low of 6.1851.

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Quoting Jason Rogers

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Chinese GDP Beats Expectations But Indicates Slowdown The Chinese economy grew at 7.4% over the first quarter of this year. While slightly stronger than the median forecast of 7.3%, it still marks a slowdown from 7.7% the previous quarter. The People's Bank of China ( PBOC) sets the midpoint around which the trading band of the Yuan may trade. {image} For the third day in a row they set a weaker midpoint at 6.1589, down 0.03 per cent from the previous day's 6.1571. It is the lowest level since September, 2013. As a result the Yuan has been trading...

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Quoting Jason Rogers

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"The unwinding could present further upside to the USD/CNH rate if we do see some of these fundamental themes start to pick-up into summer."

http://i.imgur.com/uVTqFCV.png

Past performance is not necessarily indicative of future results.

While the target is still 6.3000, the stop can now be raised to be below the April 17th low of 6.2153.

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Quoting Jason Rogers

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"The tumble in China's yuan is showing no signs of letting up, with the currency falling near daily for three straight months as the economy slows, fueling fears that the slide has further to go.

"Analysts and economists expect the yuan to continue sliding, with ING and CIBC forecasting it to touch 6.3 per dollar, which will be its weakest since September 2012 and will mark a close-to-4% tumble in the currency this year, which would be unprecedented." source: Yuan Continues Slide, and It Hasn't Hit Bottom

http://i.imgur.com/15cMG7u.png
Past performance is not necessarily indicative of future results.

While the stop can theoretically be moved to just below the April 22nd low of 6.2338, since it's Friday, it might be best to wait until after the weekend to see how trading opens on Sunday.

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Quoting Jason Rogers

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"The punitive measures impose travel bans and asset freezes on companies and officials and also tighten licensing requirements for certain hi-tech exports to Russia. But they do not impose sanctions on specific sectors of Russia's economy and leave the state-held natural gas giant Gazprom untouched." source: AFP

http://i.imgur.com/DAylKBH.png

Past performance is not necessarily indicative of future results.

A short USD/RUB...

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Quoting Jason Rogers

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Strategy Video: Is This a Tradable USDJPY Breakout? https://www.youtube.com/watch?v=FPQIdZU6pQA

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Quoting BogiFX

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{quote} WOW.Ok i got shocked.I havent seen those setups .Thanks a lot for this video Jason you help me a lot.

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Quoting Jason Rogers

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{quote} My pleasure Bogi Let me know if you'd like to see analysis of a particular currency. Lately, I've been watching both the Chinese yuan and Russian ruble with interest.

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Quoting Jason Rogers

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Major Shift Points to Euro Weakness versus Yen Retail traders have remained mostly short the Euro versus the Yen as the EUR/JPY exchange rate trades near important highs. {image} Yet in the past week we’ve seen long interest jump 34 percent and total longs are now at their highest levels in over two years. {image} The material swing in sentiment warns of continued losses—particularly as we’ve seen a similar turn in EUR/USD. {image}

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Quoting AgentFx

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{quote} Why not update your SSi every hour like most companies who provide information on their order books do?

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Quoting AgentFx

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AND Just FYI I'm sure you know this BUT if what order books are true on other sites the majority of Retali traders got wiped on the EUR since most of them were long (again according to order book publications).

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