After the recent drop in value, the price of this pair appears to now be floating in the over-sold territory on the RSI of both the hourly and daily charts, signaling an upward correction may occur in the nearest future. The recent bullish cross on the 4-hour chart's Slow Stochastic heavily supports this notion. As the Bollinger Bands on the hourly chart begin to tighten, a volatile upward correction may be occurring in today's early trading hours. forex traders can take advantage of this imminent volatile movement by setting an early long position with tight stops.
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