USDCNY - Daily - Most popular topic recently: "Trade War"
Trade Alert
For now, it seems that this pair could continue shifting north towards our key levels of resistance. With China, potentially, trying to solve their export issue, they could devalue their currency a bit more, in order to make their exports more attractive. This could drive USDCNY a bit higher again. Please see the chart for potential targets above the current rate.
On the other hand, do not exclude a possibility for a bit of a correction to the downside, in order for the bulls to jump in again at later stage. Also, please see the chart for details.
Don't forget to have your SL in place.
For now, it seems that this pair could continue shifting north towards our key levels of resistance. With China, potentially, trying to solve their export issue, they could devalue their currency a bit more, in order to make their exports more attractive. This could drive USDCNY a bit higher again. Please see the chart for potential targets above the current rate.
On the other hand, do not exclude a possibility for a bit of a correction to the downside, in order for the bulls to jump in again at later stage. Also, please see the chart for details.
Don't forget to have your SL in place.