Divergence!

Morning everyone,

Looking at the Euro this morning and immediately I am struck by the fact it is overbought.

Daily RSI is around 80, the 8,13,21 & 34 are all overbought.
The weekly 8 & 13 are also overbought.
MACD on 60 has a nice divergence and we are at some key resistance levels as mentioned yesterday.
As I am writing this, the 34 60 looks on the verge of making a bearish reversal.
Lastly Comms as previously mentioned are also still short.

A break of 13080 swing low may see further movement to the downside. Support level area is 12950-13000. If we deal below 12950 then further weakness could be on the cards.

Good luck again to you all.

Javid