{video}EURUSD resumed its recovery phase on Wednesday, rising as high as 1.0914 – the highest level since January – before easing slightly lower again. The pair seems to have met overbought conditions in the four-hour chart as both the RSI and the Stochastic oscillator are pivoting lower after peaking around 70 and 80, respectively. Interestingly, the warning signals came after the price faced a strong rejection near the 50% Fibonacci retracement of the previous downtrend, shifting the focus back to the downside. The 38.2% Fibonacci mark of 1.0865, where the 20-period simple moving average (SMA) is placed, is now ... (full story)