davetromp
Short

Buying Chinese Yuan or shorting the EURCNY

FX_IDC:EURCNY   EURO / CHINESE YUAN
The ERUCNY pair seems to be making a retracement after the run-up that started in June and lasted until September 2018.
I will be trading this unleveraged. I am just buying and holding Chinese Yuan without using a broker that lends me money to leverage my bet.
Target 1 is at the 50% retracement of the June-September move.
Target 2 at the 68% and target 3 at the74% retracement level which also aligns with a support and resistance level.
I will sell the Yuan if or as it hits these targets or if the EURCNY pair moves above the Kumo.
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