EURUSD : A LONG TERM UPTREND BEGINS?
The price has tested the crucial support level at 1.10987, and the RSI approaching oversold, and stochastic reverse from oversold also. So it is worth to pay attention to the possible long tern uptrend. However, if FOMC raises target rate to 0.50%, then this idea may fail.
Note
A very bad NFP of only 38K in May, will it make the FOMC to remain its monetary policy steady in June and July? And a medium term EURUSD uptrend is possible? My point of view is YES. However, we should wait and see some clues from FOMC member
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.