Chinese Yuan Price Action Setting Up For a Potential Collapse

17 Ağu 2022

We have a huge Void below us and the Yuan has Rallied away from this Void before, but it appears to now be making a Lower High with Hidden Bearish Divergence on Both the RSI and MACD; If the Yuan Breaks Below the B point of this Potential Crab BAMM which also happens to be The Confirmation Line of what would then also be a 3 Falling Peaks Pattern, we will very likely then see Downwards Acceleration Towards the 1.618 Fibonacci Extension Below to Complete the Harmonic Pattern

16 Ağu 2023

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The CNY has continued to follow the projection down and has recently broken below the B point and back-tested it as resistance thereby also confirming the Confirmation Line of the 3 Falling Peaks. I now expect the downward action to accelerate towards the 1.618 Target.