USD/CNH 1H Chart: Declining patterns is broken
After scoring a new high level last week, the USD/CNH currency exchange rate had declined throughout the second half of the week. During that time various patterns were broken. Because of that reason a review of the pair is conducted.
The pair has revealed a large scale descending speculative pattern, in the borders of which a medum term channel down pattern was located at. Although, on Monday the descending pattern was already broken by a junior scale channel up pattern.
The ascending pattern is most likely just representing the first move in the borders of a new to be discovered medium size pattern.
The pair has revealed a large scale descending speculative pattern, in the borders of which a medum term channel down pattern was located at. Although, on Monday the descending pattern was already broken by a junior scale channel up pattern.
The ascending pattern is most likely just representing the first move in the borders of a new to be discovered medium size pattern.