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ProFX_Strategist
Jul 31, 2016 9:20 AM

USDCNH - Pullback Trade Opportunity Long

U.S. Dollar/Chinese YuanFXCM

Description

4hr-chart:

Price dipped below to extreme oversold in the RSI; (now expecting a fierce rebound up).

Additionally, it is highly-logical to expect price to tag back to the 200-period MA (thick dark gray line) (which is still bullish & still in the uptrend).

Currently this might not be a big trade, but you can still get some pretty decent pips out of it.

Best regards.
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