USDCNH. Correction is over. Another drop is ahead.
The WXY countertrend corrective structure looks completed.
The minimum target for another drop is at the earlier low 6.2360.
MACD already sends bearish divergence signal and more over dropped below 0 into the negative territory.
Risk/Reward is over 2.
The minimum target for another drop is at the earlier low 6.2360.
MACD already sends bearish divergence signal and more over dropped below 0 into the negative territory.
Risk/Reward is over 2.
Comment:
earlier attack on the support has failed and we observe now the 5 of (5) of ((c)) of Y, in other words we are in the last stage of the whole correction before another huge drop occurs. The wave 4 of (5) was menacing but couldn't violate the wave 1 peak at the 1.3412 level. Watch breakdown to look for short.
Comment:
Order cancelled