USDCNY: The Chinese Need to Prepare for Devaluation
There is not much to say here. The chart says it all.
The Chinese need to prepare for the coming Yuan devaluation. Gold is headed higher as defense against this reckless monetary policy. I have a feeling that USA will follow suit. You can hedge against senseless money printing using gold. That's why the price of gold is going up lately. This trade war will continue to drag out until at least the end of the current US administration, but could last even longer if Trump is re-elected. I believe that gold and Bitcoin will be strong beneficiaries of this macroeconomic situation. There is a lot of volatility in Bitcoin, but may be used as a potential hedge against global economic turmoil.
Actionable Idea: Sell the Yuan and receive USD. You can wait for about 7.63 on the chart. Then, unwind the position by selling the USD and receiving the Yuan. Stop loss at about 6.83.
The Chinese need to prepare for the coming Yuan devaluation. Gold is headed higher as defense against this reckless monetary policy. I have a feeling that USA will follow suit. You can hedge against senseless money printing using gold. That's why the price of gold is going up lately. This trade war will continue to drag out until at least the end of the current US administration, but could last even longer if Trump is re-elected. I believe that gold and Bitcoin will be strong beneficiaries of this macroeconomic situation. There is a lot of volatility in Bitcoin, but may be used as a potential hedge against global economic turmoil.
Actionable Idea: Sell the Yuan and receive USD. You can wait for about 7.63 on the chart. Then, unwind the position by selling the USD and receiving the Yuan. Stop loss at about 6.83.
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