USDCNH Long after a test with the upward trendline. Stochastic oscillator indicator shows %K has moved above %D in the lower 20 band, indicating a long opportunity as the currency is currently oversold. Also above the 200 EMA which adds further confluences to the indication.
IF the band brakes and we get a positive clossing candle I will be looking at getting into a small long here ! BUT depending how the news is taken today we may see more down side push before a small turn around
I checked the USDCNH and the price has drop away from the planned trade. However, the bullish impulse formed in W1 TF is still in tact as it retrace in 38.2 Fib retracement so I see a possible long position if there will be another rally on the upside