USDCNY is testing support (7.07-.08)
3/Jun/2020:
If support zone (7.07-7.08) is good,
upper resistance zone, see (7.15~7.16),
which has two symmetries, one 0.618.
Next support zone, see (7.03-7.04).
If support zone (7.07-7.08) is good,
upper resistance zone, see (7.15~7.16),
which has two symmetries, one 0.618.
Next support zone, see (7.03-7.04).
Note
From the 7.08 low, USDCNH goes up well. Now in 1h chart, 8/34 EMA crosses up, which is a sign of Long.Note
Easily blew through downside (7.07-.08) support zone.I would expect the market to test its (7.03-7.04) support zone, which is much stronger since it is composed of 5 symmetry lines.
Note
Tested (7.03-7.04) support zone, so far so good. For next move, I would expected to see whether this zone can be hold, and whether 2h 8/34 EMA can cross up.Note
15/Jun/2020:Perfect test and respected at
(7.03-7.04) level.
Upper resistance:
Level 1: (7.099 - 7.105),
Level 2: (7.13 - 7.14).
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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.