Rising Wedge and Fibonacci? USDCNH

USDCNH CHART PRICE – USDCNH 4H

According to the chart, we can see that the price has already been through the rising wedge, as we expected, the price went down after the rising wedge. So, what could the price go next? 

I built a Fibonacci on the latest downward trend, now we can see the price retrace back to around 0.382 level. 

Yes, I consider that small upward wave a retracement, so now, after the retracement, let’s expect the price to continue to go down.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.