Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The market is approaching a key horizontal level 101.840.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 100.350 level.
P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Possible move as long as the price is close to a very sensitive zone. Thanks for sharing!
SignalProvider
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What do you think about this idea DXY ?
BigBear007
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Fail😂🤣
TheCryptagon
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Quality post. Your contribution here is invaluable.
InvestingScope
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Thank you. Great job. Thumbs up!
TradingShot
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Not the most common proposition based on the current market conditions. Generally, it is possible assuming all arguments work out, so thumbs up just for this!