FX:USDCNH   U.S. Dollar/Chinese Yuan
The Yuan has been on the rise since the beginning of June 2020 and it does not appear that there will be a "slow-down" in the following week as the Greenback continues to depreciate.

Tendency: Downtrend ( Bearish )
Structure: Breakdown | Descending Triangle | Support & Resistance
Observation: i. A structure depicted by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows confirms our Descending Triangle .
ii. This pattern clearly explains that the Demand for the USD is weakening;
iii . As we anticipate price to break below our lower support @ 7.05000 (a psychological level) indicating downside momentum will become stronger in the following week(s).
iii . In as much that we shall be wary of false Breakdowns at the lower support, we shall eye a further Breakdown of Daily chart Trendline with engulfing candles as comfort .
iv. Please note that as the price keeps putting pressure on the 1st Key level throughout last week, a Breakdown of this level might be a zone to initiate sell order for quick gains.
Trading plan: SELL confirmation with a minimum potential profit of 450 pips.
Risk/Reward: 1:2.5
Potential Duration: 1 to 5 days

NB: This speculation can be considered to make decisions on lower timeframes.

Watch this space for updates as price action is been monitored.

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