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On the daily timeframe, USOUSD shows strong potential in continuing the bullish trend after successfully reversing the direction of the trend that had experienced bearish pressure when it touched the support line last week. The commodity continues to move up gradually and currently sits at 74,985, indicating that the upward momentum is still quite solid. Although the price is still below the kumo cloud, which is usually considered an area of resistance, signals from the stochastic indicator show a graph that continues to strengthen towards the 80 level, indicating that the bullish trend is likely to continue. If this momentum is maintained, there is a chance for USOUSD to try to break the kumo cloud and continue its further rise.
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