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Yuan

USDCNY: The trend that keeps on givingI'd like to bring your attention to the $USDCNY monthly chart here. If we examine previous levels of support and resistance, and analyze price action using Tim West's methods, we could conclude that the uptrend in this pair, and logically, the one in Bitcoin, has still ample upside in its future. It would be logical to observe 19% more upside in $USDCNY, and 760% more in $BTCCNY, if we maintain the current uptrend speed, which is yet to be seen. For now, we can look to fade short term and intermediate term selloffs in these instruments, with considerable comfort, and a rather high win rate. My preference is to hold bitcoin positions, but we can speculate on both instruments, and also in smaller timeframes. Good luck, Ivan Labrie.
Long
by IvanLabrie
3
Bitcoin Ascending TriangleAfter the break of the yellow triangle to the upper side and above 5200 Yuan, we are stuck in a ascending triangle. We have a big resistance above the 5350 Yuan level. We have to break the 5450 Yuan level before we can go up higher in price. The next big support level is around 5100 Yuan. After a possible downward move the price should trend up on the turquoise trendline until it hit the 5350-5450 and break it to the up side with a target around 6000-6300 Yuan.
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by Gebbo
Keep care! Chinese manufacturing PMIThe Chinese manufacturing PMI will influence the market direction. If the PMI will be lower then the last time then we will have a breakout above the upper side of the triangle. The volume should increase around 28.11.2016. If the breakout to the upper side of the triangle fail we will retest the 4600-5800 yuan support zone which is also at the 50% Fibonacci retracement. RSI perfomed a bullish bounce, which indicades a bullish breakout by time.
B
by Gebbo
2
AUDUSD: Huge breakout, similar to copper and iron oreWe have a potential breakout of considerable scale in the Aussie dollar chart. I'd highly reccomend entering longs if not in, you can risk either 3 times the daily ATR for the long term, or use Friday's low as your stop, more aggressively. The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not yet confirmed, but highly likely, so we can get in early on. I'm adding a shorter term entry here, on a break of Friday's high, with stops under Friday's low, to complement my longer term position in this pair. Check out my copper forecast in the related ideas, as well as the oil an commodity index charts. We're in the brink of a massive move, that if confirmed, can be ridiculously profitable for all of us if it pans out like I expect it to. This also ties nicely with China's inclusion in the SDR basket today, OPEC's deal, fears of Deutsche Bank's failure dissipated, and Australia's fundamentals overall. Cheers, Ivan Labrie.
Long
by IvanLabrie
13
USDCNH: Potential long term topWith oil rallying, and China soon to be accepted by the IMF, to include the Yuan in the SDR currency basket, the technicals in this chart suddenly look very good to me. You could go short here, with stops above yesterday's high to begin with. The currencies not affected by today's fear spike due to Deutsche Bank's shock were: the Euro (surprisingly!), XAU, XAG, CHF, CNH, so, we know these are relatively stronger (same as oil and other commodities). Good luck, Ivan Labrie.
Short
by IvanLabrie
3
Dollar Yuan Short OpportunityDollar Yuan formed a nice double top during the month of July confirming the substantial bearish macd divergence we're seeing on the daily. After forming our high at the double top we dropped down to support forming a lower low, and have now pulled back to the .5 and .618 fib retrace, forming a lower high along with a beautiful right shoulder within the daily H&S formation. My first target sits around the monthly fib retrace area and daily 200/250 ema's. My guess is we bounce off of that area forming a lower low, and then pullback to the 6.62500 area to retest the neckline/weekly fib/daily 50/60 ema's. This appears to be one of the cleanest dollar crosses right now and should be a smooth and lucrative trade.
Short
by patrick186
BTC WEEKLY CHART: "The Panic Zone" Bulls Bears and Swans Oh My!In the event you were infatuated by BREXIT the big news was the opportunistic Chinese took the opportunity to devalue the Yuan on the same day. Under intense journalistic distraction, no one accused the Chinese of currency manipulation. This event makes it extremely clear that BTC can be used to foretell big FOREX moves. It foretold the giant Rand devaluation and now the Yuan. Insiders in China were aware of the impending devaluation and moved big money in and out of BTC as a value store. Relative to precious metal, BTC is a faster, easier, useful tool for instantaneous shelter from central bank moves. The China move creates a bull flag formation with a target price in the $900 neighbourhood. When? Watch volume. It has tailed off. When it picks up it will be the start of the second phase move. My time line projections suggest end of 4th quarter, 1st quarter 2017. New upside resistance is the temporal blue dash line at $800. Support short term is the blue solid at current level and long term is the red dash. A drop through $475 will result in PANIC. I have moved the PANIC ZONE up a level. Black Swans are still fluttering about and the bears are in hibernation. It's interesting to note, BREXIT, civil war in Europe, new dictatorship in Turkey, warnings about Nuclear conflagrations between Putin and NATO, all have had very little impact on the current value of BTC. War in Eastern Europe may affect the operation of two major BTC exchanges, BitStamp and BTCe. If they are planning for Armageddon then a relocation would be a seamless event. If not, major disruption in the BTC market will occur. The halving was a non-event although it points to BTC as a sound value store. There are serious world-wide financial problems looming on the horizon. The Euro is simply doomed. When? It will be an overnight event like the Lehman Brothers failure. If any large German banks fail, the party is over.... and at least one is on the edge. In the US the massive unreported problem is public workers pension imbalance. It's $4 Trillion with a T out of whack. Massive numbers of retirees will drain away all available municipal tax funds. This is simply a pot hole that won't be filled. Illinois will be the first to fall. California will be the second or third. Trump may build the wall but there will be devastation on both sides of it. If Hillary wins, the debt will be the least of our problems. Stay tuned...
BITFINEX:BTCUSDLong
by investigator
2
BTC WEEKLY CHART: "The Panic Zone" Black Swans LandingChina-the Yuan escape hatch, BRexit, or I call it BRodzilla, technical problems at Bitfinex - conspiracy or not, the Black Swans are landing and the panic is rising. Panic is good. There is money to be made in panic. What motivated me to comment this time was not the chart activity. Plenty of it. It was what one state government Bureauhack said about BTC. "It is way to unstable for us to accept as tax payment". You keep thinking that chump. From where I sit, BTC is stable and it's the rest of the world that's wildly nuts. And, who is clamoring to pay tax with BTC? I'll throw my wads of worthless fiat at them. Take that fools! I'm keeping my BTC. OK, I had to get that off my chest. A couple of comments about the chart. We needed the pull back. The rally was way too up and beyond the trend lines. Thank you Bitfinex. I have to admit the timing of the outages were suspicious. If it keeps happening, I personally will abandon them. I added another up arrow on the near record volume of money moving into the market. This is future rally rocket fuel. I think it's enough to keep the major trend moving up for another 6 months to a year. I moved the official "Panic Zone" up a notch to start at $338. If you don't know what the "Panic Zone" is, click on my links and read more. I also added another level of support at $474. Everything else remains unchanged from the previous commentary. The blue hash trend lines are starting to appear to be real. I wouldn't be surprised at an occasional pull back to the red hash. For now I'm content to watch the price bounce along the top blue hash. Top side resistance still starts at a roughly $950 ceiling. Hang on to your chowder. The wild ride continues...
BITFINEX:BTCUSDLong
by investigator
2
Bitcoin Breakout Imminent - Correleation Between China and BTC *This is not your conventional chart and many may ignore it but I believe that this chart has tremendous potential and that the intersections that occur in this chart followed by severe volatility is not just a matter of chance. (Chinese Index with Blue candles) As everyone knows the Chinese run Bitcoin. My hypothesis is that in the past year and a half Bitcoin's price action in dependent on capital inflows/outflows in between the BTC market and various Chinese asset classes. Here I have taken Shanghai Index A for the comparison. I believe that its not coincidence that Bitcoin is breaking 14 month + highs while Shanghai Index A is reaching near 16 month lows. Even if you play with the zoom you will always get intersections preceeded by heavy price volatility. Best of luck my friends
BITFINEX:BTCUSDLong
by RahulAndra
1