EURUSD is overbought on all timeframes - M30, H1, H4, H12 and D1. FSVZO (advanced oscillator with predictive mechanism) leading indicator signals incoming reversal to downside. Weekly demand lies at 1.118.
Note
Hedge funds have also added more shorts in the latest CFTC COT report (67% short vs 54% in the previous week). This supports the idea that EURUSD is likely to face selling pressure in the upcoming few days to weeks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.