Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish
The market is testing a major horizontal structure 1.709.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.714 level soon.
P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Trade closed: target reached
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That was an excellent trade and the target was reached too!