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EURCNH 18 May 2023

EURCNH 18 May 2023 on the H1 timeframe, it can be seen that this pair managed to rosed through R1 towards R2. after successfully exiting the kumo on the ichimoku indicator, this pair managed to continue to rise even breaking through R1 and is at a price position of 7.60664. This is also reinforced by the RSI indicator which is also seen climbing up towards the level of 70, which indicates that this pair is in a bullish trend. Therefore, go-long can be an option for scalpers. Be aware of trend reversals and market volatility.

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