IvanLabrie

USDCNH: Potential long term top

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IvanLabrie Diupdate   
FX:USDCNH   U.S. Dollar/Chinese Yuan
With 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.
Trading ditutup secara manual:
It isn't acting well, probably the PBOC at work here. Better stand aside, but keep an eye on it.

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