USDCNH Update - Major Breakout Underway
If you bought this pair when I first featured it here, you have made money. If you were leveraged 50:1 - which - often is the case in forex, you have likely returned more (% returned) in this trade than what you can expect in three years of investing in a vanilla benchmark-tracking 401K.
I remain long USDCNH and will continue to cover it for the foreseeable future.
Something to consider: such a rapid deterioration of the Yuan is reason to speculate the Chinese economy is becoming increasingly decoupled from anything that resembles the last 10-12 years of price action. For example, if the Yuan were to surpass $7.20, I would start to suspect two possible (again I can't "predict" anything) situations:
1. The Chinese economy in severe distress (hopefully not).
2. Intentional disregard for participation in the global economy, as it exists currently (hopefully not).
Again, we are not there YET; all we can do is read the chart and analyze information / data as it becomes available.
Pray for peace.
God Bless
I remain long USDCNH and will continue to cover it for the foreseeable future.
Something to consider: such a rapid deterioration of the Yuan is reason to speculate the Chinese economy is becoming increasingly decoupled from anything that resembles the last 10-12 years of price action. For example, if the Yuan were to surpass $7.20, I would start to suspect two possible (again I can't "predict" anything) situations:
1. The Chinese economy in severe distress (hopefully not).
2. Intentional disregard for participation in the global economy, as it exists currently (hopefully not).
Again, we are not there YET; all we can do is read the chart and analyze information / data as it becomes available.
Pray for peace.
God Bless
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.