The USDCNY pair gave us an excellent sell opportunity on October 02 2023 (see chart below), as it stayed below Resistance 1 and hit our 7.1225 Target:
The price has since started to rise after hitting the bottom (Higher Lows trend-line) of the long-term Rising Wedge, and now sits above the 1D MA200 (orange trend-line), past a 1D MA50/100 Bullish Cross.
We...
The USDCNY pair gave us an excellent sell opportunity on our last analysis (October 02 2023, see chart below), as it stayed below Resistance 1 and hit our 7.1225 Target
At the moment the price is struggling to break above the 1D MA5 (blue trend-line), which it hit yesterday for the first time since November 06 2023. What we are currently more interested at is...
It has been long since we last traded the USDCNY pair (May 2023), that gave a solid short-term buy break-out signal (chart below):
The trend has broken aggressively inside a long term Channel Up, which recently broke above the 7.3300 Resistance but only marginally. It stands out that the Resistance breach was made on the Head of a potential Head and Shoulders...
It's been a long time see we last traded the USDCNY pair (see chart below) but it was a long-term trade that very precisely hit the both the 1D MA200 (orange trend-line) and 1W MA100 (red trend-line) targets:
After the January 16 rebound, the pair former a Channel Up and currently the price is approaching the 6.9785 Resistance. The 1D RSI got overbought on...
A month ago we called the top on the USDCNY:
With the price breaking below Fibonacci 4.0, the pair has basically called for an extension of November's downtrend. This will be confirmed if the price fails to close the week above the 1D MA50 (blue trend-line).
As you see, on a sample dating back to January 2017, every time the price failed to close above the...
The USDCNY pair has been on a very strong rise since it got detached from the 1D MA50 (blue trend-line) on August 11. The bullish channel resembles that of mid April - mid May, which topped on its 6.0 Fibonacci extension from its previous Support. The RSI is printing a similar sequence that was just before that top.
As a result it is a possibility that the pair...
