RowaynaAhmed

The Reversal Trend of The Chinese Yuan Against The US Dollar.

FX_IDC:CNYUSD   CHINESE YUAN / U.S. DOLLAR
The currency pair of the Chinese Yuan against the US Dollar has started to rise by 3 points between the support line 0.1551 and the resistance line 0.1554, and this is an identical reaction to the continuation pattern of the ascending triangle . On the other hand, the Chinese Yuan may reverse its trend and start decline against the rise of the US Dollar ; due to the negative report issued by China's National Bureau of Statistics about annual retail sales, which came less than the expected percentage by 4.4% therefore, the currency pair can break the first support line 0.1551 to meet the second support line 0.1548, then the third support line 0.1547, and it is unlikely that the currency pair will breach the resistance line 0.1554
Trade closed: target reached: a new flow has been created between the support line 0.1548 and the resistance line 0.1567