USDCHN could be forming a falling wedge
As can be seen, the price seems to form a falling wedge which I marked with maroon. Since the price has been falling for a while, the pressure of sale could be less than the beginning.
As I said, the price seems to form a falling wedge, so the wedge is incomplete. And the price could fluctuate several times for this forming process.
Since the price would continue to fluctuate for a while, the MACD and the RSI cannot offer us too much hint about the trend after the wedge.
Basically, the price could go up after falling wedge, however, we do not have too much signal for that.
Let’s wait to see the end of the wedge.
As I said, the price seems to form a falling wedge, so the wedge is incomplete. And the price could fluctuate several times for this forming process.
Since the price would continue to fluctuate for a while, the MACD and the RSI cannot offer us too much hint about the trend after the wedge.
Basically, the price could go up after falling wedge, however, we do not have too much signal for that.
Let’s wait to see the end of the wedge.
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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.