**As seen in the FX Quotes 09/03/2021 report, more at cablefxm.co.uk/reports
EUR/USD percentile ranking reached its lowest point since April 2020 back on August 18 signaling a potential over extension in price action (EUR/USD oversold). Since then, the spot has rallied circa 166p or 1.4%
We look at the following chart like this:
At 1.0 percentile = 2DMA to 150DMA > 200DMA
At 0.0 percentile = 2DMA to 150DMA < 200DMA
Historically, neither of the 1.0 and 0.0 percentile rankings are sustainable, so we read these levels as a plus point to support a regression to mean the while we study a series of other indicators that to obtain a directional perspective.
**Our own momentum model percentile rankings for the rest of the G10 can be found in the FX Quotes report
Comments