Below all the buzz regarding the trade war and the “great yuan manipulation” that according to Trump occurred on Monday, charts show a very clear and different picture. Just look at the S&P500 daily with the two hundred moving average, it is undeniable that prices pierced a bit lower the average and then like that, a reverse sent the world most important stock index to an upward run until today, that erased all the losses from that session.
Photo by Isaac Smith.
Interestingly, today the yuan was just as low as it was on the day investors woke up to the issue. So, if anyone has any doubts that markets don’t move randomly or without some sense of technical justification, this week was a major example that indeed charts pave the way for assets movement, of course not always right and especially not easy to read, but they are a major tool for traders.
Marco Silva is a Financial Market Specialist with 20 years of experience, with transactions in 12 different countries, involving numerous financial instruments, Specialist in Technical Analysis, Capital Manager, Investment Advisor, Financial Hedging Operations and Algorithm trading developer. Economic Commentator TV and RTP Information for the Financial Markets, Responsible for the Department of Economy / Markets of TVL.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.