China fires biggest warning shot yet in trade war and now it’s up to Trump to decide how far to go
- President Trump’s latest volley in the trade war brought what strategists say is the strongest response yet from China — a weakening of its currency to a key threshold markets once thought was a red line.
- Risk markets sold off and investors rushed into safety plays, like Treasurys, out of concern that the latest escalation means a trade deal cannot be reached and risks of a global recession are now higher than they were.
- Investors are watching the currency market closely for more moves by the Chinese, but as far as the trade war goes, the next moves will be up to Trump which labeled China a “currency manipulator” after U.S. markets closed. Read more @ more correction expected for USD. https://www.cnbc.com/2019/08/05/china-fires-biggest-shot-yet-in-trade-war-and-now-its-up-to-trump.html
USDCAD TECHNICAL CHART
- Wait for Price to break the Ichi Moku
- Always be aware of the Support & Resistance
- Establish good TP & SL Position
- Understand how chart pattern are drawn and recognise the leading indicators.
AYALA TECHNICAL CHART
- Ayala Land is under-valued and we buy for value investing
- If there are pullbacks – we buy again with Peso Averaging
- Trend is firmly up with Ichi Moku and MA200
- Be aware of the Support & Resistance.
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