EUR/USD Is Looking Overbought on H1 Time

Russell Shor, CFTe, MFTA FXCM

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

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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