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USOUSD 18 Apr 2024

USOUSD 18 Apr 2024 In the analysis of USOUSD on the weekly timeframe, despite previously experiencing a strong bullish trend, the commodity is again experiencing significant bearish pressure, causing the price to touch the Kumo Cloud again. The Stochastic indicator adds confirmation to this situation by showing the market has entered into an overbought zone, and now the chart is declining from the 80 level, signaling the potential for further declines. Traders may need to consider a more cautious strategy and be wary of the possibility of further price declines, while short-term strategies may focus more on capitalizing on bearish price movements for short-term gains.

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