Tag Archives: overbought territory
Eur/Usd Technical Analysis for 4th February 2009
Posted on04. Feb, 2009 by admin.
The price appears to be floating in the over-bought territory on the 4-hour chart’s RSI, indicating a downward correction may occur later today. However, the daily chart’s Slow Stochastic indicates a recent bullish cross, signaling a possible continuation of the upward movement. In the short-term traders however may expect a downward correction, but longer-term traders [...]
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Eur/Usd Technical Analysis for 18th December 2008
Posted on18. Dec, 2008 by admin.
The Daily chart is showing that the pair is still in the bullish configuration. However, the RSI is already floating in the overbought territory indicating that a bearish correction might take place in the nearest future. When the downwards breach occurs, going short with tight stops appears to be preferable strategy.
