USDCNH Triple Zigzag To Complete Cycle Wave X

The formation of the USDCNH currency pair suggests the development of a large intervening wave x of a cycle degree. It assumes a primary double zigzag Ⓦ-Ⓧ-Ⓨ. And the final primary wave Ⓨ is currently under construction.

In the short term, we can expect the completion of intermediate intervening wave (X) that takes the form of double zigzag W-X-Y near 6.428. At that level, it will be at 50% of wave (Y).

After reaching the specified price level, the market can turn around and start moving within the final actionary wave (Z) towards the 6.307 area. At that area, intermediate sub-waves (Z) and (Y) will be equal.


An alternative scenario hints at the completed cycle intervening wave x. Here it has the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. Its final wave Ⓨ is a double zigzag (W)-(X)-(Y) of the intermediate degree.

Thus, in the next coming trading days, market participants can expect the market to rise and the formation of a cycle wave Z.

Most likely, prices, along with the wave Z going up, will update the previous high of 6.528.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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