Time Frame: 8h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The market is on a crucial zone of supply 0.648.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.642 level.
P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Trade closed: target reached
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That was an excellent trade and the target was reached too!