The above charts show the EURUSD. The left chart shows the daily time frame. The currency pair is above its black 20-day SMA and the SMA is pointing up. The RSI is overbought and is normalizing (green rectangle). The right chart shows the hourly time frame. If the EMAs cross bullishly and the RSI moves above 50 (red ellipses), the EURUSD will look to move upwards. However, if the daily RSI remains overbought, this leg may have limited upside.
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