USDCNH 2 Apr 2024 In the analysis of USDCNH on the daily timeframe, it can be seen that the pair is experiencing sideways moving after experiencing a bearish trend at the beginning of last week. Although it is currently above the Kumo Cloud on the Ichimoku Indicator, the Stochastic Indicator chart also shows movement around the mid-level. This suggests that the market is in a consolidation phase with no clear direction, where there is no strong dominance from either buyers or sellers. In this kind of situation, traders need to be cautious and may avoid trading until there is further confirmation from technical or fundamental signals that can provide a clearer direction. The adoption of prudent trading strategies and proper risk management will be key to dealing with these consolidating market conditions.
