Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The market is approaching a significant resistance area 1.244.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 1.203 level.
P.S Please, note that an overbought condition can last for a long time, and therefore being oversold doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
Completely agree, I think it's going to drop quickly, either from here or after completeing the H&S, think DXY will move up this week, thanks for sharing!