USDCNH On Key Level! Trading Plan:
USDCNH reached key daily structure support.
touching the underlined level we see a bullish engulfing candle confirming the significance of this level.
on 4H the price is currently forming a right shoulder of inverted head and shoulders pattern formation.
7.09 is its neckline.
wait for a 4H bullish breakout of it and then buy on retest or aggressively (4H candle close above).
the initial target will be - 7.125
if the market goes lower and closes below head level, setup will be invalid.
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