Chinese Yuan weakening … not what we wanted to see

From a pattern perspective there are two scenarios:

  • recent up move is a B wave that will complete in/around here and then fall into area located and then up (orange sequence of arrows)
  • recent down move (blue arrows) completed the a-b-c correction and the dollar is going UP against the Yuan.
  • note: when the candles go UP it’s Chinese Yuan weakness and when the candles go DOWN it’s Yuan strength
  • summary: we spent some time last night showing the FXI (China) and Copper correlation .. any chance that the PBOC has a crystal ball w/ regards to their stock market, horrific credit and real estate bubbles?
Chinese Yuan continuing to strengthen? two possible scenarios shown

Chinese Yuan continuing to strengthen? two possible scenarios shown

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: