Momentum  is an footloose oscillator, meaning there’s no upper or lower boundary. This makes interpreting whether a currency brace is overbought or oversold private.

When the Momentum index is overbought, the price can continue to move higher.
When the Momentum index is oversold, the price can continue lower as well.

Use the Momentum index in confluence with fresh specialized pointers or price action analysis when trying to read overbought or oversold conditions.