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10 Mar 2020
EUR/USD: Not overbought anymore
On Monday, EUR/USD was overbought on both the four-hour chart and the daily one – extreme conditions. Now, the EUR/USD Tuesday's four-hour chart is pointing to further gains, Yohay Elam from FXStreet briefs.
Key quotes
“The Relative Strength Index on the 4h chart is now below 70, outside overbought conditions and allowing for more rises.”
“The currency pair is trading above the 50, 100, and 200 Simple Moving Averages while momentum is positive.”
“Resistance awaits at 1.1410, a peak from the summer of 2019. It is followed by Monday's high of 1.1495.”
“Support awaits at the daily low of 1.1330, followed by 1.1285.”