EUR/USD Is Looking Overbought on H1 Time
The below is the hourly chart of the EURUSD. The pair is looking very frothy. We note that the gradient of the trendlines have increased significantly: green --> orange --> red with the gradient of the red trendline being very steep and requiring a tremendous amount of momentum to be sustained. The RSI is also above 80 and is overbought (blue rectangle). This may skew the reward: risk ratio in the short term. We continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
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