This study aims to measure the accuracy of the Relative Strength Index (RSI) Indicator in predicting the direction of foreign exchange (forex) price movements. To achieve the research objectives, six foreign exchange currencies that fall into the major pair category were determined as samples. RSI data is collected from the Foreign Exchange Market which can be accessed via tradingview.com during the research period, January – September 2021. The data is analyzed using SPSS software with the Mann Whitney U Test which can prove statistically whether there is a significant difference between the predictions of forex price movements with the reality price movement. Thus, this study provides evidence of the accuracy of the Relative Strength Index (RSI) Indicator in predicting the direction of forex price movements. The findings of this study can be a reference for practitioners such as forex traders or business people who deal with foreign currencies in choosing technical analysis methods that can help make the right decisions.

Alhilfi, M., 2019. Role Of Using The Relative Strength Index In Making Speculation Decision In Stock Applied Research In The Iraq Stock Exchange. Int. J. Acad. Res. Accounting, Financ. Manag. Sci. 9, 123–135. Https://Doi.Org/10.6007/Ijarafms/V9-I1/5855

Bollinger, J., 1992. Using Bollinger Bands. Stock. Comodities 10, 47–51.

Chong, T., Ng, W.-K., Liew, V., 2014. Revisiting The Performance Of Macd And Rsi Oscillators. J. Risk Financ. Manag. 7, 1–12. Https://Doi.Org/10.3390/Jrfm7010001

Dichiara, J., Dennen, R., Kaung, M.W., 2012. Forex Trading And Investment. Interact. Qualif. Proj.

Hari, Y., Dewi, L.P., 2018. Forecasting System Approach For Stock Trading With Relative Strength Index And Moving Average Indicator. J. Telecommun. Electron. Comput. Eng. 10, 25–29.

Imano, I.T., Budiyanto, N.E., 2019. Sistem Trading Forex Otomatis Menggunakan Indikator Rsi Dan Ma Dengan Metode Martingale Di Metatrader 4. J. Inform. ….

Jain, E., 2019. Technical Analysis And National Stock Exchange Of India: Testing The Rsi Rule Using Cnx Nifty Index. Afro-Asian J. Financ. Account. 9, 406–419. Https://Doi.Org/10.1504/Aajfa.2019.102991

Kermanshahi, S., 2014. Testing The Power Of Technical Analysis For Forecasting The Market Trend And Future Price In Forex Market.

Kiiski, J., N.D. Performance Of Rsi Investment Strategy On Foreign Exchange Markets.

Klimavicius, D., 2010. Prekybos Strategijos Formavimas Forex Rinkoje Naudojant TechninÄ™ AnalizÄ™ Forex Trading Strategy Formation Using Technical Analysis Baigiamasis Magistro Darbas Naudojant TechninÄ™ AnalizÄ™ Forex Trading Strategy Formation Using Technical Analysis Baigiamasis.

Lusardi, A., Mitchell, O.S., 2013. The Economic Importance Of Financial Literacy. J. Econ. Lit. 52, 65.

Lusardi, A., Mitchell, O.S., Curto, V., 2009. Financial Literacy Among The Young: Evidence And Implications For Cunsumer Policy. Natl. Bur. Econ. Res. 358–380.

Nassaji, H., 2015. Qualitative And Descriptive Research: Data Type Versus Data Analysis. Lang. Teach. Res. Https://Doi.Org/10.1177/1362168815572747

Park, C.-H., Irwin, S.H., 2011. The Profitability Of Technical Analysis: A Review. Ssrn Electron. J. Https://Doi.Org/10.2139/Ssrn.603481

Pramudya, R., Pramudya, R., 2020a. Technical Analysis To Determine Buying And Selling Signal In Stock Trade. Int. J. Financ. Bank. Stud. 9. Https://Doi.Org/10.20525/Ijfbs.V9i1.666

Pramudya, R., Pramudya, R., 2020b. Technical Analysis To Determine Buying And Selling Signal In Stock Trade. Int. J. Financ. Bank. Stud. 9, 58–67. Https://Doi.Org/10.20525/Ijfbs.V9i1.666

Ricciardi, V., 2008. The Psychology Of Risk: The Behavioral Finance Perspective What Are The Main Theories And Concepts From Behavioral Finance That Influence An Individual’s Perception Of Risk? Invest. Manag. 85–111.

Roudgar, E., 2012. Forecasting Foreign Exchange Market Trends : Is Technical Analysis Perspective Successful ?

Rousis, P., Papathanasiou, S., 2018. Is Technical Analysis Profitable On Athens Stock Exchange? Mega J. Bus. Res. 2018, 1–24.

Sahin, U., Ozbayoglu, A.M., 2014. Tn-Rsi: Trend-Normalized Rsi Indicator For Stock Trading Systems With Evolutionary Computation. Procedia Comput. Sci. 36, 240–245. Https://Doi.Org/10.1016/J.Procs.2014.09.086

Sattar, A.M., Toseef, Muhammad, Fahad Sattar, M., 2020. Behavioral Finance Biases In Investment Decision Making. Int. J. Accounting, Financ. Risk Manag. 5, 69. Https://Doi.Org/10.11648/J.Ijafrm.20200502.11

Yassini, S.B., Roodposhti, F.R., ..., 2019. Analyzing The Effectiveness Of Candlestick Technical Trading Strategies In Foreign Exchange Market. … J. Financ. ….

Yazdi, S., Ziba, L., 2013. Technical Analysis Of Forex By Macd Indicator. Int. J. Humanit. Manag. Sci. 1, 159–165.