The ERUCNY pair seems to be making a retracement after the run-up that started in June and lasted until September 2018.
I will be trading this unleveraged. I am just buying and holding Chinese Yuan without using a broker that lends me money to leverage my bet.
Target 1 is at the 50% retracement of the June-September move.
Target 2 at the 68% and target 3 at the74%...
I think the EUR will continue depreciating and appreciating against the CNY as shown by the general trends it seems to be following. There's consistent, although there's not 100% contact with the support and resistance lines. Maybe like 90%?
So hopefully it continues along this trend!
Critique away please :) .