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Igor-Silva

USD/CNY - Even a hare will bite when it is cornered.

Long
U.S. Dollar / Chinese Yuan (FX_IDC:USDCNY)  
Igor-Silva Updated   
FX_IDC:USDCNY   U.S. Dollar / Chinese Yuan
Trend Analysis Chart Patterns Beyond Technical Analysis USDCNY CNY yuan dollarindex
23
0
trendanalysis chartpattern beyondta usdcny cny yuan dollarindex


Hi, today we are going to talk about Yuan Renminbi and its current landscape.

We have a Double Top Breakout on USD/CNY with Volume and could bring the Yuan Renminbi to a dramatic devaluation against the US Dollar. Trough this daily chart, we can observe that China's central bank - (PBOC) had to remove or loosen the grip on it, allowing the currency fluctuation and their free precification by the market, without strong barriers programed by the PBOC.

Thank you for reading and leave your comments if you like.
Trade closed: target reached
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