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Day: August 6, 2019
August 62019
Chinese Yuan Stabilizes As Tensions With US Remain High
The Chinese yuan is stabilizing Tuesday after it cratered 2% against the US dollar to kick off the trading week. But the pause in yuanâs collapse might be temporary because the White House continues to apply pressure to the worldâs second-largest economy, particularly as officials discuss labeling Beijing a currency manipulator. Investors will now look to Chinaâs trade numbers on Wednesday. On Tuesday, China issued its first public address to President […]
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August 62019
USD/JPY Reached 105.50. What Is Up Next?
From 108.89 the price dropped an reached the 105.50 level, turning it into a support. Long-term perspective After confirming the resistance area of 112.20, the price entered a decline that paused at 106.92 from where a angled rectangle began forming. Its last peak confirmed the upper line of the enclosing channel and also falsely pierced the 109.00 psychological level (108.89 on the chart). This led to a very strong sell that pierced the previous important […]
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