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USD/CNY Trading Analysis (10/09/2024)

10.09.2024

Market Review

The trend is descending. The currency pair is trading in the range between 365 and 135 ЕМА. The ascending truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

USD/CNY Forex price chart

Trading idea:

  • Sell at the breach of  7.1193.
  • Stop-loss at 7.1290.
  • Price levels at 7.1084 and 7.0800. 


#usdcny #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC
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