China has been holding the Yuan steady for many years now. But yesterday Chinese Central Bank shocked the currency markets. The People’s Bank of China allowed the yuan to depreciate almost 2 percent against the U.S. dollar to levels last seen three years ago, sending a shock through currency markets. This step is not going… Continue reading China Shocks The Currency Markets By Devaluing Yuan
EURUSD Jumps Up 200 Pips On Poor US Economic Data
EURUSD has jumped up more than 200 pips in the last 24 hours. Infact EURUSD has jumped up more than 300 pips in the past 3 days on the US poor economic data. Take a look at this EURUSD H1 chart that shows a strong bullish divergence signal that appeared 24 hours before. This was… Continue reading EURUSD Jumps Up 200 Pips On Poor US Economic Data