EURUSD: Overbought on 1D presenting a sell opportunity.

15 Mei

EURUSD is overbought on its 1D technical outlook (RSI = 71.115, MACD = 0.002, ADX = 33.336) with the price approaching the top/ LH trendline of the long term Channel Down. It is already past the 0.618 Fibonacci level, where the last LH got rejected but the 1D RSI is right where the tops of December 27th 2023 and March 7th 2024 where formed. This is a solid low risk sell opportunity, aiming for the next LL on a 1.236 Fib extension (TP = 1.05550).


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