ZRXUSD is incredibly overbought on the 1W timeframe (RSI = 89.293, MACD = 0.117, ADX = 50.025) but that doesn't call for a pullback yet, at least not to the 1D MA50. The reason is that this is the final phase of the Bull Cycle rally that makes a Top inside the R1 Zone and the Sine Wave activity grasps that very accurately. We remain bullish on ZRX, targeting the bottom of the R1 Zone (TP = 2.0000).
## If you like our free content follow our profile to get more daily ideas. ##
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.