RSI is trending upward. The pair bounced off from a support line extended from Jan. 2015
The RSI might be suggesting a trend change, because RSI is going in the opposite direction of the price action.
RSI is trending downward
RSI has signal a downward trend. A good chance double top pattern might be forming
as long as a daily price close below 0.77037, it will be a confirmation for me of an extension of the bearish momentum.
The Mortgage Approvals are expected to keep riding downward for the coming months. The market has already priced in that before the release of the Mortgage Approvals that is due on the coming Monday.
