FX:USDCNH   U.S. Dollar/Chinese Yuan
Tendency: Temporary Downtrend ( Bearish )
Structure: Trendline | Breakout
Observation: i. Notice a visual representation of trendline as a line is drawn under pivot lows (indicated with green arrows) showing the prevailing direction of price action.
ii. A breakout taking price action out of the trend occurs at 7.00000 zone (a psychological level) which also coincides with our Supply zone .
iii . Suspect that the last couple of bullish engulfing candles emphasise price action going through a retest in anticipation of downtrend rally.
iv. Price accelerating towards our Moving Averages.
Trading plan: SELL opportunity with a minimum potential profit of 3,500 pips.
Risk/Reward: 1/3
Potential Duration: 15 to 25 days

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
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Past performance is not necessarily indicative of future results.

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