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EURCNH 8 Mar 2024

EURCNH 8 Mar 2024 on the H1 timeframe, this pair rallied up quite significantly after being able to reverse the trend to bullish yesterday. Having touched the price position of 7.88369 after the trend reversal, the pair now appears to be experiencing a bearish trend again. When referring to the stochastic indicator, the bearish trend that occurs is because this pair has experienced saturation due to overbought. Therefore, go-short is an option for traders. In the other hand, if the pair is able to reverse the trend back to bullish and then strengthen again, then go-long can be an option. Keep an eye on the volatile market movements and learn many indicators before making trading decisions.

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