USDCNH correction over, trend resumes
Updated
Here we are coming to the end of the corrective wave within the underlying bull trend. The time has come to start getting to work on the top-side here again, this is a move we have been tracking for some months (see attached).
We are going to be exploring the speed limit of the dollar over the next few months so buckle up and get ready for some very large moves across FX. Like the rest of the USD board, markets have been corrective and now is the time to re-establish upside exposure. Initial targets for the weekly move come in at 6.97.
There is scope to continue as far as 7.10 and 7.20.
Best of luck those who are navigating around the US-China trade flows.
We are going to be exploring the speed limit of the dollar over the next few months so buckle up and get ready for some very large moves across FX. Like the rest of the USD board, markets have been corrective and now is the time to re-establish upside exposure. Initial targets for the weekly move come in at 6.97.
There is scope to continue as far as 7.10 and 7.20.
Best of luck those who are navigating around the US-China trade flows.
Trade closed: target reached
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