Razvan

EURUSD - overbought situation

Short
FX:EURUSD   Euro / U.S. Dollar
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The Euro was strongly bought today. The price got to an important supply zone , and also went overbought on the RSI 24. After 140 pips without any visible correction, we could expect one. A 38.8 Fibonacci retracement , would make way for new upward movement

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use rsi on D1 only
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Razvan Taras2
i try to use it on the time frame that i make the analysis, usually I look over more time time frames, and change the time span of the rsi according to the tf.
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the price past the resistance zone, and the RSI went into megaoverbought (75.90 level), it hasn't been here since 29.06 this year. We should be attentive if long positions are opened.
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