US30USD Will Move Higher! Long!
Take a look at our analysis for US30USD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 42,851.2.
The above observations make me that the market will inevitably achieve 43,893.3 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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