USDCNH | MY PERSPECTIVE FOR THE WEEK
We continue to enjoy profitable Bearish opportunity on this pair in the last 3 weeks as price moved over 350pips in our direction since my last publication (see link below for reference purposes). We might be looking forward to a last Bearish drive as the PBoC intends to promote the healthy development of offshore Yuan market.
Tendency: Downtrend ( Bearish )
Structure: Supply & Demand | Trendline
Observation: i. Price has been respecting my Bearish trendline in the last couple of weeks with no structure suggesting a possible Breakout of this line soon.
ii. Present structure at this phase in the market is screaming Breakdown of my Key level ! 6.93500 in the coming week(s).
Trading plan: SELL confirmation with a minimum potential profit of 350 pips.
Risk/Reward: 1:3
Potential Duration: 1 to 6 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
NirvanaForex
Risk Disclaimer:
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 me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take 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.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Downtrend ( Bearish )
Structure: Supply & Demand | Trendline
Observation: i. Price has been respecting my Bearish trendline in the last couple of weeks with no structure suggesting a possible Breakout of this line soon.
ii. Present structure at this phase in the market is screaming Breakdown of my Key level ! 6.93500 in the coming week(s).
Trading plan: SELL confirmation with a minimum potential profit of 350 pips.
Risk/Reward: 1:3
Potential Duration: 1 to 6 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
NirvanaForex
Risk Disclaimer:
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 me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take 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.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
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