US Dollar/Chinese YuanUpdated Another lower low? Key zone of USDCNH
I am expecting the recent high being taken out
but the trend is clearly still down trend.
I draw a possible reverse pattern on the chart..
IF the recent high couldn't be penetrated,
then the downtrend will continue.
The nearest zone that would stop it was way below 6.40. Way down there!
but the trend is clearly still down trend.
I draw a possible reverse pattern on the chart..
IF the recent high couldn't be penetrated,
then the downtrend will continue.
The nearest zone that would stop it was way below 6.40. Way down there!
Note
As my drawing shows, price bounced back a little bit. Still bearish no doubt. Buyers are not in control obviously.Note
Yep. As I expected, the recent high couldn't be taken out. Another lower low, soooo downtrend continues.
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plan your trade and trade your plan
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.