Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Sell | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Sell |
Alligator (13; 8; 5) | Buy | Buy | Buy |
SAR (0.02; 0.2) | Sell | Buy | Buy |
Aggregate | ⇗ | ⇒ | ⇒ |
After scoring a new high level last week, the USD/CNH currency exchange rate had declined throughout the second half of the week. During that time various patterns were broken. Because of that reason a review of the pair is conducted.
The pair has revealed a large scale descending speculative pattern, in the borders of which a medium term channel down pattern was located at. Although, on Monday the descending pattern was already broken by a junior scale channel up pattern.
The ascending pattern is most likely just representing the first move in the borders of a new to be discovered medium size pattern.