Hi Traders,
The us dollar vs Chinese Yuan (now at 6.298) is bottoming down, maybe around 6.27 or earlier. A retracement to 6.44 might start soon.
ELLIOTT WAVES
The weekly and the daily charts show the impressive depreciation of the US dollar since January 2017, just about when the new US president took his office.
Considering 100% the range between the highest high and the lowest low of the USD vs YUAN (6.9874 - 6.0153), the USD dropped a wopping 72% in 12 months.
Between 1.29 and 1.25 (see the target at 1.27 on the weekly chart), the USD might unfold a retracement wave to 6.44 as displayed in the daily chart.
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hours chart, click to enlarge
The us dollar vs Chinese Yuan (now at 6.298) is bottoming down, maybe around 6.27 or earlier. A retracement to 6.44 might start soon.
ELLIOTT WAVES
The weekly and the daily charts show the impressive depreciation of the US dollar since January 2017, just about when the new US president took his office.
Considering 100% the range between the highest high and the lowest low of the USD vs YUAN (6.9874 - 6.0153), the USD dropped a wopping 72% in 12 months.
Between 1.29 and 1.25 (see the target at 1.27 on the weekly chart), the USD might unfold a retracement wave to 6.44 as displayed in the daily chart.
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hours chart, click to enlarge
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