Trade Alert
We could potentially capture the fall here, because it seems that the Yuan is trying to fight back from its recent sell-off, that's why we have seen USDCNY skyrocketing.
We can see that the uprise is supported by a steep line, which could get tested soon. But if this time it won't be able to withhold, then a break of that upside support line and a close below the 6.715 level could initiate more selling and the pair could travel lower.
Please examine the chart for potential levels.
Don't forget to have your SL in place.
We could potentially capture the fall here, because it seems that the Yuan is trying to fight back from its recent sell-off, that's why we have seen USDCNY skyrocketing.
We can see that the uprise is supported by a steep line, which could get tested soon. But if this time it won't be able to withhold, then a break of that upside support line and a close below the 6.715 level could initiate more selling and the pair could travel lower.
Please examine the chart for potential levels.
Don't forget to have your SL in place.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.