EUR #USD Price Analysis Holds near 1.16, daily RSI shows overbought conditions
http://ntvforex.com/news/?id=a74206. . 00 36 GMT . By Omkar Godbole . . . . #EUR #USD remains bid near 1.16 as dollar sell off continues. . Bias remains bullish despite the overbought reading on the daily RSI. . #EUR #USD is trading near 1.16 at press time, having hit a multi month high of 1.1627 on Thursday. . The 14 day relative strength index is now reporting overbought conditions with an above 70 print. The currency pair has gained over 1.6% this week and is up nearly 1,000 pips from the March low of 1.0636. . As such, one may feel tempted to abort the bullish bias. However, an overbought reading on the RSI does not imply a bullish to bearish trend change. It simply means the rally has gone too far in a short t…

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