1 hr RSI patterns have been quite accurate, expect a bounce off of long term resistance down to 1100's in the next 5 days
I never Trade $USDCNH, but the chart is very clean. I am add this pair to my watch list. The pair is testing the resistant 6.271 . I like to see more deeply on this price area. So far my down side target still my Daily Lower Ascending MedianLine. I am shooting this for short term.
This might not be the ideal strategy of trading, good to know overall given the strikingly similarities of the fractals. Originally suggested by:
China and Japan may be the economic giants of Asia and the world, but the behavior of their currencies would indicate otherwise. Since August 2012, the Chinese yuan strengthened and the Japanese yen weakened considerably. The yuan trades at record highs against the yen. Given the negative impact of a strong currency on exports, China should seek to weaken its...
Looking for the Yuan to strengthen against the dollar with support levels to test in the coming month. However, a close above the 50 percent Fib would cause a reassessment of inflection point.
4hr DMI/ADX is turning up again. This is just beginning. Looks very similar to the selloff that happened at 31, Target this time is around 21.7, which puts us at lows for a double bottom