Relevance up to 14:00 2022-08-27 UTC+2
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Technical analysis:
USD/CNY has been trading upside as I expected. There is the breakout of the symmetrical triangle pattern in the background, which is good sign for further rally.
Trading recommendation:
Due to the breakout of the symmetrical triangle pattern and strong upside trend, I see further growth.
Watch for potential buying opportunities on the intraday dips with the upside objectives at 6.909 and 1.079.
MACD oscillator is showing strength and no bigger divergences.
Key short-term support is set at the price of 6.835
