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The RSI is another forex indicator that belongs to the oscillator category. It is known to be the most commonly used forex indicator and showcases an oversold or overbought condition in the market that is temporary.

If the price trades are above the moving average, it means buyers are controlling the price, and If the price trades are below the moving average, it means sellers are controlling the price.

Fibonacci is another excellent forex indicator that indicates the exact direction of the market, and it is the golden ratio called
Several forex traders use this tool to identify areas and reversals where profit can be taken easily. Fibonacci levels are computed once the market has made a big move up or down and looks like it has flattened out at some specific price level.