USDCNH Short Head and Shoulders + Divergence
After the pairs highest notation ever on 3rd of September, the USDCHN has come down a bit and lost momentum. If we look at the RSI we can see a divergence, suggesting that the momentum is lost and it will come down further.
It has also formed a very nice Head-and-Shoulders pattern and is about to break the neckline, with a target of 6.95000 - a nice even number coinciding with previous structure and is about the length of Head-to-Neckline.
It has also formed a very nice Head-and-Shoulders pattern and is about to break the neckline, with a target of 6.95000 - a nice even number coinciding with previous structure and is about the length of Head-to-Neckline.
Giao dịch đang hoạt động:
If we look at the fundamentals in regards to the trade war with the US and the trade talks going on. I think that US and China will reach some sort of a agreement, even if it is just a small one portrait to be a big one - both need it.
Overall I think China is the big winner of the two if there is a truce in the trade wars - which should be reflected in the USDCNH.
Overall I think China is the big winner of the two if there is a truce in the trade wars - which should be reflected in the USDCNH.
Giao dịch được đóng thủ công:
Trade closed due to Chinese data during the Asian session that will affect the USDCNH.