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EURCHF 27 Feb 2024

EURCHF on the Daily timeframe. The pair managed to break out of the kumo cloud on the ichimoku indicator and rallied to the price position of 0.95444. When referring to the stochastic indicator, the pair appears to be sideways moving above the 80 level which is a saturated zone due to overbought. It allows a trend reversal to occur. If we look at the candlesticks that have also seen bearish signals, indicating a bearish trend may occur. Therefore, go-short can be an option for traders. But if this pair is able to maintain its bullish trend, then go-long is still an option. Keep an eye on many indicators before making a trading decision.

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