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USDCNH 4 Jan 2023

USDCNH 4 Jan 2023 on the weekly timeframe, it looks like this pair is still ranging between R1 and R2. Being able to stay above the kumo cloud on the ichimoku indicator, this pair is still trying to continue the bullish trend that has occurred several times. If referring to the stochastic indicator the chart still shows a bullish trend that may continue, therefore go-long can be an option. But if this pair fails to continue to strengthen and then back down even break R1, then go-short is an option. Keep studying many indicators before making trading decisions.

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