USDCNHHello traders, its AZFXedge here presenting a Trade Plan on USDCNH
Market structure is Bearish since Sept 2019
Apparently, market appears to develop an Ending Diagonal Pattern on Weekly thus providing early signals of weaning momentum to the downside.
Overall market stalls at support zone at 88.6% retracement of previous Bullish move.
At this level, market can easily continue with Bearish move, but as Higher Highs and Higher Lows starts to form on H4 (and price appears to trade in Bullish Flag), there is a high probability for the market to visit 6.46000 area before continuing Bearish!
#Trade Management is Key
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