USDCNH is usually a very good indicator for risk-on, risk-off flows because of China's link to the global economy. What we see on the pair below is an ongoing bearish trend that can resume after a wave four rally. Now, this wave 4 rally is still incomplete and can retest higher resistance, near 6.83. So for now there is room for some more risk-off and USD strength, while metals can see lower prices too untill wave c unfolds on USDCNH. However, risk-on can be mack when this wave four rally is finished. 

USDGNH


Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD recovers to near 0.6450, shrugs off mixed Australian jobs data

AUD/USD recovers to near 0.6450, shrugs off mixed Australian jobs data

AUD/USD is rebounding to near 0.6450 amid renewed US Dollar weakness in the Asian session on Thursday. The pair reverses mixed Australian employment data-led minor losses, as risk sentiment recovers. 

AUD/USD News

USD/JPY bounces back toward 154.50 amid risk-recovery

USD/JPY bounces back toward 154.50 amid risk-recovery

USD/JPY bounces back toward 154.50 in Asian trading on Thursday, having tested 154.00 on the latest US Dollar pullback and Japan's FX intervention risks. A recovery in risk appetite is aiding the rebound in the pair. 

USD/JPY News

Gold rebounds on market caution, aims to reach $2,400

Gold rebounds on market caution, aims to reach $2,400

Gold price recovers its recent losses, trading around $2,370 per troy ounce during the Asian session on Thursday. The safe-haven yellow metal gains ground as traders exercise caution amidst heightened geopolitical tensions in the Middle East.

Gold News

Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets

Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets

Manta Network price was not spared from the broader market crash instigated by a weakness in the Bitcoin market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.

Read more

Investors hunkering down

Investors hunkering down

Amidst a relentless cautionary deluge of commentary from global financial leaders gathered at the International Monetary Fund and World Bank Spring meetings in Washington, investors appear to be taking a hiatus after witnessing significant market movements in recent weeks.

Read more

Majors

Cryptocurrencies

Signatures