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

EURUSD

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