Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish
The market is testing a major horizontal structure 101.671.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 102.190 level.
P.S We determine 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.
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