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Usdcnhshort

USDCNH SHORTGoing short here. A head and shoulders reversal pattern appears to be forming. If it breaks the neck line theres no major support that would stop it until the red zone I marked out. My two target prices are marked by the green X's. A "by the book" a head and shoulders pattern usually breaks down the length of the original head after retesting the neckline. I marked out the head measurement with the red price range and the green price range shows where that break down "should fall" which is where previous support/accumulation zones are which makes me more confident in this trade.
Short
by Internet_Money
Going Down SoonLove this pair, been riding this thing for a long time, go out when it retraced and now I'm ready to get back in. Watching price action, we should see it stop at this resistance zone, I don't see it going very high up into the zone, but watch price action and when you see bearish momentum in shorter time frames look to get in. There is also bearish divergence on the 4hr, pretty sure this will be going down here for a long while, ride this one down to 6.26 level.
Short
by ghengiskahnspermshot
Yuan sharp reversalThis morning we saw another one sharp reversal of Yuan to growth. In the previous month, the People's Bank of China actively engaged in interventions in the foreign exchange market and spent on it more $34 bln, protecting national currency from disordrly decline, although it did not interfere USDCNH’s from crawling up. In November, we have already seen a couple of sharp kickbacks of the pair associated with good news from China, but the scale of the decline suggests that it was also the intervention of the PBC. However, such interventions do not fundamentally change the sentiment in the markets, and the moment of growth should be a quick return to the fundamental trend.
Short
by AlexKuptsikevich