EUR/NOX : The Currency pair has corrected from nearby 13 to 9.80 i.e. almost 30% that is a big correction within a period as well.
I won't go into fundamentals as I don't believe in EMH but I'll explain that downfall in technical words as I'm aware how this is gone and where it might stop.
At the Top we saw a hammer pattern which a reversal pattern and correction was seen. We study that if any of the trading security has moved in one direction without any correction we expect that security to correct at least 50% of that move and we saw that in this currency pair as well.
The currency pair made a correction till 11.10 that is 50% of the upside move and then saw a bounce back to 0.38% Fibonacci retracement, at this level we saw a engulfing pattern suggesting a sell view. The correction further made a new low where we saw a Harami Pattern which is suggesting that exit from short, the direction might change and we saw a change in direction. Again at higher we saw a double top formation at the resistance zone and once the breakout was seen we saw a correction.

At a lower level we have seen a hammer suggesting to book profit.
After the hammer the currency pair is trading in an upper parallel channel suggesting that the currency is trading in a range upward.
Between the channel we saw a big selling candle which is suggesting exhaustion.
 
I'll recommend to accumulate the pair.
Once the breakout is seen on the upside target for 10.39-11


If the move sustain on upside we can expect a golden crossover as well keep an eye risk is less return are huge 

Advice : Start Accumulating .

Start Accumulating upside move expected

Jul 14 2021

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