EURCNY down movePrice is compressing in a correction so I'm still looking at a probable impulse down.
EURCNY trade ideas
EURCNY retesting breakPrice broke though the trendline and is retesting it. Closed friday at the line. Expecting continuation down next week.
Trend pattern with EUR/CNY, sign to buy pair?I think the EUR will continue depreciating and appreciating against the CNY as shown by the general trends it seems to be following. There's consistent, although there's not 100% contact with the support and resistance lines. Maybe like 90%?
So hopefully it continues along this trend!
Critique away please :) .
EURCNY to continue last weeks predictionEURCNY to continue last weeks prediction after the break of the trendline.
EURCNY price broke the triangle as projected last weekEURCNY price broke the triangle as projected last week, it should now move down to the larger trendline.
EURCNY about to break downEURCNY about to break down for the bottom of the channel. It might go through the channel
EURCNY wedge getting to and endEURCNY is on a major wave 4 correction channel. Inside it, a wedge getting to and end. Expecting a breakdown soon.
EURCNY:1H: 2618 Trade BullishAfter a double bottom, a nice 61.8% fibo retracement occured.
A new up-move is likely to happen.
Hereby plausible T& & T2 targets.
Remninmi Bottomed?With the China crash still fresh on everyone's minds its time to ask if the Renminbi has bottomed out or if there is still room to crash. Based on the link attached, there seems to be the potential for a lot more bad debt that China is trying to avoid confronting, and probably couldn't even account for if they tried.
On the technical side, note the massive resistance from above via the Ichimoku cloud, successive massive drops and the inability to break previous highs. There seems to be a nice profit target at about 0.13730, which was tested and rejected on October 14th. As for a stop loss, there seems to be a level of support around 0.14032. The MACD and RSI do not indicate that this asset is oversold, despite the massive downturn as of late.
