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USDCNH 12 Feb 2024

USDCNH 12 Feb 2024 on the H4 timeframe, this pair looks to continue to strengthen since starting a bullish trend after successfully reversing the trend in the last week. Although it still experienced several trend changes, the pair managed to continue to strengthen until it now occupies the price position of 7.22379. When referring to the stochastic indicator, this pair has been in a saturated zone which allows for a trend reversal caused by overbought. If a trend reversal does occur, then go-short could be an option. But if the pair is able to continue its bullish trend, then go-long is an option. Keep an eye on volatile market movements before making trading decisions.

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