Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The market is trading around a solid horizontal structure 0.979.
The above observations make me that the market will inevitably achieve 0.971 level.
P.S We determine oversold 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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