Monday, March 7, 2016

SGD VS China Yuan technical analysis


If the W pattern is into play, I expect SGD/CNY to move to around 5.0. Now it is at resistance. I believe traders will start to short it but due to China slowing economy, yuan will continue to devalue a bit more. Eventually surpassing the resistance trendline will lead the price to ~5.0 which I will consider change some CNY to keep for longer term.




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