USD/CNY Trading Analysis (19/02/2025)
The trend is descending. The ascending wave structure is truncated. The currency pair is trading in the range between 365 and 135 ЕМАs. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trade idea:
- Sell at the beginning of the formation of the descending wave structure when wave A breaks the sloping channel of the ascending truncated structure.
- Stop-loss above the local maximum of the ascending truncated structure.
- Price targets at 7.2600 and 7.2430.
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