USDCNH 27 Oct 2023 on the Daily timeframe, the pair is still moving sideways above the kumo cloud on the ichimoku indicator. Occupying a price position of 7.32004 the pair is trying to initiate a bullish trend. Referring to the stochastic indicator, the moving average chart is showing a bullish signal. If the pair is able to continue to strengthen towards R2 and even break it, then go-long could be an option. However, if there is a factor that affects the trend reversal, until bearish occurs then go-short is an option. Keep an eye on market movements and study many indicators before making trading decisions.
