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USDCNH 15 Nov 2023

USDCNH 15 Nov 2023 on Daily Timeframe. After moving sideways between the R1 and R2 ranges for quite some time, this pair experienced a bearish trend that made it go down to break the R1. It was at a price position of 7.30646 at the end of last week and now occupies a price position of 7.24231 after experiencing bearish at the beginning of this week. If referring to the stochastic indicator bearish still seems to continue, therefore go-short is still an option for traders for now. But we should be aware of the possibility of trend reversal and changes that occur in the market. If there is a trend reversal due to oversold, then go-long can be an option.

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