Time Frame: 8h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish
The market is on a crucial zone of demand 1.093.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.107 level.
P.S We determine overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought.
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