By definition, the RSI is an indicator that tells us if a currency pair is overbought or oversold. Bitcoin Revolution 2 Review  However, just because a currency pair is oversold doesn't mean that the price of that pair is going to move up in the near future. Conversely, just because a currency pair is overbought does not mean its price will move downward in the near future.The price of the currency pair may behave in this manner, but there is no fundamental reason for this to occur and is therefore not a dependable tool to use in making sound, profitable trading decisions. The reason that the price of a currency pair will move (in every instance) is when there is an imbalance in strength between the 2 individual currencies in the pair.

For instance, if the EUR and the USD are both strong with respect to all the other currencies they trade in pairs with, but there is no imbalance of strength between the EUR and the USD, the price of the EUR/USD pair will not tend to move regardless of the RSI reading at the time, and regardless of how overbought or oversold the pair may be.So, essentially, the most important piece of information needed to successfully trade a currency pair is how strong each individual currency is compared to the other currencies it trades in pairs with. This information will allow us to match a strong currency with a weak currency, and thus select the best currency pair to trade at the time we are trading. There is no free conventional technical indicator I know of that delivers this information.

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