USDCNH 31 Jan 2024 on the H1 timeframe, experiencing sideways moving since last week the pair still continues to maintain its position above the kumo cloud on the ichimoku indicator. Successfully occupying the price position of 7.18959 and is showing bullish signals, allowing this pair to continue to strengthen towards R2. This is also reinforced by the display on the stochastic indicator which also shows an increasing graph. Therefore, go-long can be an option for traders. But if the pair fails to rally, or there is a trend reversal when the pair manages to touch R2, then go-short could be an option. Keep an eye on the volatile market movements and trade with your own risk.
