The EURUSD price extended its gains during recent intraday trading, driven by positive signals from the relative strength indicators, as the pair attempts to recover some of its previous losses. However, these indicators have reached extremely overbought levels relative to the pair’s price action, signaling that the positive momentum surrounding the pair is fading. This comes as the main bearish trend remains dominant in the short term, with the price moving along a minor trend line supporting this path. In addition, continued negative pressure is evident as the pair trades below EMA50, reducing the chances of a full recovery in the near term.