{"id":13672,"date":"2023-05-15T09:51:25","date_gmt":"2023-05-15T09:51:25","guid":{"rendered":"https:\/\/tradingshot.com\/?p=13672"},"modified":"2023-05-23T09:53:10","modified_gmt":"2023-05-23T09:53:10","slug":"usdcny-approaching-a-2-month-resistance-on-overbought-rsi","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2023\/05\/15\/usdcny-approaching-a-2-month-resistance-on-overbought-rsi\/","title":{"rendered":"USDCNY Approaching a 2 month Resistance on overbought RSI."},"content":{"rendered":"

It’s been a long time see we last traded the USDCNY pair (see chart below) but it was a long-term trade that very precisely hit the both the 1D MA200 (orange trend-line) and 1W MA100 (red trend-line) targets:<\/p>\n

\"USDCNY<\/a><\/div>\n

After the January 16 rebound, the pair former a Channel Up and currently the price is approaching the 6.9785 Resistance. The 1D RSI got overbought on Friday for the first time since February 24. If it closes a 1D candle above Resistance 1, we will buy and target the top (Higher Highs trend-line) of the Channel Up at 7.0500. Until then we will sell those overbought indicators and target the 1D MA50 on the short-term and if it closes below the Inner Higher Lows, then sell more towards the bottom of the Channel Up. If the price closes below Support 1, then long-term sell targeting Support 2 at 6.7000.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/USDCNY\/Dvkyio5L-USDCNY-Approaching-a-2-month-Resistance-on-overbought-RSI<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s been a long time see we last traded the USDCNY pair (see chart below) but it was a long-term trade that very precisely hit the both the 1D MA200 (orange trend-line) and 1W MA100 (red trend-line) targets: After the January 16 rebound, the pair former a Channel Up and currently the price is approaching<\/p>\n","protected":false},"author":611,"featured_media":13673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-13672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/13672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=13672"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/13672\/revisions"}],"predecessor-version":[{"id":13675,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/13672\/revisions\/13675"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/13673"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=13672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=13672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=13672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}