Is CNH H&S Complete?
On Dec 6th, I posted a chart of the USD/CNH (US dollar vs the Chinese offshore yuan), showing a striking Head & Shoulders formation. 33 days later, the H&S formation is 95-98% complete after USD fell against all major currencies. This also coincides with 10% drop in DXY from its highs. There's that "new" saw in FX about USDCNH or USDCNY becoming the new USDJPY. Regardless, 6.78 on USDCNH represents a nearly complete H&S formation. Does that mean USD has bottomed for now? Does its coincide with a USD recovery on Thursday's release of US CPI? Or, will we see a correction during the 1-2 days before CPI, followed by fresh declines. What does it portend for any coinciding technicals with gold and indices? Here is that chart again Look where we were, and where we are now. http://ashraflaidi.com/hot-chart/dxy-cnh Several people are flying to London this week for my Private Event on Saturday at The Gherkin. Stay tuned.
Latest IMTs
-
Mystery Chart & Coordinated Silver Attack
by Ashraf Laidi | Feb 6, 2026 10:52
-
From 4920 to 5090 and back
by Ashraf Laidi | Feb 5, 2026 9:41
-
How I Nailed $5090oz
by Ashraf Laidi | Feb 4, 2026 11:44
-
2x our Gains in 8 Weeks
by Ashraf Laidi | Feb 3, 2026 10:28
-
4500 and 72 Hit, now what?
by Ashraf Laidi | Feb 2, 2026 2:22





