USD/CNH 1H Chart: Declining patterns is broken

Source: Dukascopy Bank SA

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.

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