The EUR/USD currency pair is at support from 200 EMA on the H4 timeframe. The Month started with a strong upward movement after the oversold state on the Monthly Chart, where our STS_RSI_MTF_Indicator showed values below 30 for RSI 6 period. The price went above 200 EMA on the H4 chart and is currently testing it with RSI-6 period values on the H4 - 27.
These arguments give us reason to expect the price to rise from its current levels. In situations like this, we use our STS_RSI_Bot. The Bot is set to open long positions on each H4 candle in which we have RSI-6 values of 30 or less. The Robot will close all positions when RSI rises above 70.
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