USD/CNY Trading Analysis (10/09/2024)
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.
Trading idea:
- Sell at the breach of 7.1193.
- Stop-loss at 7.1290.
- Price levels at 7.1084 and 7.0800.
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