USDCNH - Price being compressed for a bullish breakout.
Price is entering a tight area where it will be blocked by a resistive trendline (red) and supported by the oblique black trend which started in summer 2015. The triangle apex is cut in half by a support at 6.5 which is likely to be retested during March. Note that this scenario occured in Oct/Nov with a false breakout signal (a bit far from the apex of the flat bottom triangle with support @ 6.32) that retraced towards its last support before producing the real breakout.
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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.