Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish
The market is approaching a significant support area 90.749.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 91.088 level.
P.S We determine oversold/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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Trade closed: target reached
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That was an excellent trade and the target was reached too!