IvanLabrie
Long

USDCNH: PBOC devaluation in action

FX:USDCNH   U.S. Dollar/Chinese Yuan
78 0 9
We're holding longs in this pair.
Let's see how it goes, every time it makes new weekly lows it's finding buyers stepping in, which is more evident in the current uptrending enviroment. Rgmov moves constantly up, so it's a good idea to look for longs when it is overextended.
Since we have broken all resistances, we could see a dramatic move up from here. Risk is fairly small, I would keep stops at the recent swing low for the time being.

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Ivan Labrie

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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance             on such information.
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