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Attachments: Chinese yuan (USD/CNY)
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Chinese yuan (USD/CNY)

Chinese Government just issued a warning
https://us.yahoo.com/finance/news/ch...185255705.html
Quoting stylinex
Chinese Government just issued a warning https://us.yahoo.com/finance/news/ch...185255705.html
wow just did short but usdcnh. Good timing... lol
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Sooner or later it will drop whether some people like it or not.
http://www.forbes.com/sites/timworst.../#3f819d304b95
Time will come this year.. Notice drop in stock price for Banks on Hong Kong Index today
https://us.yahoo.com/finance/news/ma...024500286.html
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Quoting alayinizAMK
{quote} wow just did short but usdcnh. Good timing... lol {image}
this went all the way down to 6.45 after a failure
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Quoting alayinizAMK
{quote} this went all the way down to 6.45 after a failure {image}
support worked but possible resistance close to 6.5
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this one needs time but with time it will drop
Quoting stylinex
this one needs time but with time it will drop
so maybe its time soon
(usdcnh h1)
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  • Post #190
  • Quote
  • Edited at 12:24pm Jun 7, 2016 11:55am | Edited at 12:24pm
Forget the Fed, recommends Goldman, and watch how the dollar trades vs. the yuan

The Speculative Sentiment Index reading for USD/CNH shows ratio of long to short positions in the USD/CNH stands at 1.17 as 54% of traders are long.

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We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USD/CNH may continue lower.
Quoting Jason Rogers
Forget the Fed, recommends Goldman, and watch how the dollar trades vs. the yuan http://www.marketwatch.com/story/for...uan-2016-06-06
they are market makers and I have made more money trading in the opposite direction of what Goldman wrote about recently
it rubs the lotion on its skin
Quoting Jason Rogers
Forget the Fed, recommends Goldman, and watch how the dollar trades vs. the yuan The Speculative Sentiment Index reading for USD/CNH shows ratio of long to short positions in the USD/CNH stands at 1.17 as 54% of traders are long. {image} We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USD/CNH may continue lower.
The opposite usually happens when everyone is short and when everyone is bullish.
Quoting big-cheez
{quote} they are market makers and I have made more money trading in the opposite direction of what Goldman wrote about recently
Quoting stylinex
{quote} The opposite usually happens when everyone is short and when everyone is bullish.
You're both right! That's why the Speculative Sentiment Index (SSI) can provide insight as a contrarian indicator.

As an update to my post yesterday, the ratio of long to short positions in USD/CNH now stands at 1.22 as 55% of traders are long. Long positions are 2.0% higher than yesterday and 2.0% above levels seen last week. Short positions are 0.3% lower than yesterday and 1.0% below levels seen last week. Open interest is 0.9% higher than yesterday and 2.1% above its monthly average.

Since we use SSI as a contrarian indicator to price action, the fact that the majority of traders are long gives signal that USD/CNH may continue lower. In addition, the trading crowd has grown further net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further bearish trading bias.
Only a matter of time before Yuan depreciates. UK if I am not mistaken was second largest export country for China after America. If so and UK's GBP depreciated in value then the Chinese Yuan must also depreciate to keep exports in flow to maintain China's GDP. I see 7 RMB down the road.
Chinas Market News: PBOC Addresses Yuans Recent Volatility

Renee Mu's new daily digest on DailyFX.com focuses on market sentiment, new developments in Chinas foreign exchange policy, changes in financial market regulations and Chinese-language economic coverage in order to keep DailyFX readers up-to-date on news typically covered only in Chinese-language sources.
Fiscal Spending Soars in the First Half of 2016

In her latest daily digest, Renee Mu focuses on market sentiment, new developments in China’s foreign exchange policy, changes in financial market regulations and Chinese-language economic coverage in order to keep DailyFX readers up-to-date on news typically covered only in Chinese-language sources:

  1. The PBOC strengthened the daily fix for the Yuan against the Dollar to a three-week high.
  2. China’s FX regulator said the Brexit result has not brought major impact to China’s capital flows.
  3. The Chinese government increased fiscal expenditures to 8.9165 trillion Yuan in the first half of 2016.

Offshore Yuan Borrowing Cost Jumps Ahead of Chinese Holiday
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Full report by Renee Mu on DailyFX.com
Yuan at roughly 6.7231 today. Let's see if it makes a run towards 7 before the end of this year
Still waiting for that 7 YUAN target this year
Almost 6.80 now
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