Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The market is testing a major horizontal structure 111.409.
Taking into consideration the structure & trend analysis, I believe that the market will reach 110.837 level soon.
P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!
Comment
⋅
I am confident in this trade so I will keep it open!