China intervention of CNY

I have done more regular entries on this blog including additional article during mid week. That was until this week.

First of all, I travelled back to Kuala Lumpur to handle some family issues since last week and only back on Friday. 

Addition to that, most of the counters that I monitored were in the direction I forecasted. So there was no need for additional up-date.

Finally, I am hit with COVID-19 flu! It happened when I was on my way back to Singapore, started with dried and sore throat, followed by body ache and feeling chill and hot. At first, I thought I contracted Dengi or Malaria fever because of that. So lucky me.

Anyway, the ART test was negative until this morning, and very strange that the "test" bar appeared very strong while the control bar too some time to appear.

As a result, self-isolation for 72 hours before my next self-test. I also need to rest more to counter this virus, even though it is not as deadly as the first generation.

So is there anything that I need to up-date since most of the counters are in progress as expected? 

There is much hype about CNY the last week, as if it is dooms day for China with the CNY depreciation. So much so that The People's Bank of China is prepared to intervene. They warned the local banks to stop selling CNY and they are prepared to sell of USD to stabilize CNY.

Fig 1. CNY Weekly Chart

In my last up-date on CNY China warning banks not to short CNY? I have set a resistance level at 7.144. CNY has surpassed this level during the week. However, as a result of its intended intervention, It caused CNY to strengthen and a shooting star is formed. 

It is possible CNY to reverse at this point, but with a correction. The bar this week still requires confirmation by the next week's movement. But it is worth noting.

 Anyway, need my rest now.