EURUSD

The Chinese market is hurting the economic impact of having a stronger currency. For this reason, they lowered the reference rate by as much as 1.9%. Festival takes simulation to whom and when how much to pay / no pay help law on foreign currency borrowers. We met data on inflation in the region - again declining.

Barely Yesterday we wrote about the worse data from the Chinese economy, and we already have a reaction. People's Bank of China weakened the yuan by reducing the reference rate of 1.9%. Due to the lack of a floating exchange rate the central bank has the ability to make such intervention. The maximum daily fluctuation range is 2%, which is used for almost all, but immediately adds that this single move to reassure the markets. To put things in perspective a decision: is more or less as if one day the euro has become more expensive by 8 cents compared to the zloty. The effect of this action will be to improve the competitiveness of the Chinese economy. On the other hand, a strong yuan was an element of raising the prestige and importance of the Middle Kingdom in the world. Currently, China is the weakest currency against the dollar for nearly three years. However, given the increase in strength of the dollar at that time it was so strong yuan rather than the result of ambition authorities realistically priced currency.

A law intended to help borrowers frankowym is getting a later stage. There has been considerable anxiety in the markets as another financial simulations show the huge, potential course, the scale of costs. The Act is intended to help przewalutować loans for the buck. The current calculation assumes that everyone will benefit from it authorized, or about 33%. This simulation is certainly overly optimistic. For most people, such a move guaranteed to increase the amount of installment. As a result, these people will prefer to leave himself currency risk only not condemn the steady and irreversible increase in fees. What is the impact on the currency market will have this decision? Maybe we'll see the reaction when the vote on the law, although its impact on long-term rates should not be significant.


CURRENCY WAR accelerates

Seems like the lured enough retailer into the "wrong" direction now so that they can push it down torwards 1.09 again

yeah that is right. They use at least 1 billion per pip to lure retailers.
you better quit trading currency now

It seems like big guys are fighting each other for the Appearence of the camdle. rotl

that should not be a surprise.

Niecely done

Very true, that would be the best thing to do

on EU M5 there's possibility of HnS imho.

The bubble is about to burst. just a matter of time ing

the Chinese managed to ruin all our plans today. no worries. we still have hope when the US opens

bubble burst to which direction? to the place labelled as C on your chart?

back and tested the open... now lets see if it takes a new high to confirm it as support

can you please tell how you get this volume? any sites giving this ? any link please

Right decision to close all EU short before zzzz ........ too bad didn't add long

crude at pivot, you still carrying?

That's what i am talking about.
As mentioned earlier i regard the 0.75 and 0.764 as an overshot of 0.726

If you look at the rejection (circled) on m5 you'll see how 0.726 gets multiple bounces

Still half after 44.8x yesterday - will bid until it breaks 43.5x

Correct

What bothers me in the current rejection is that by now we should have been at least at the 1.099x area. Better in the 1.095x area.
The usual rejection with a structure like this should be really strong