The currency pair has been trading in a falling wedge. Falling wedges have a tendency of breaking on upside 92% of the time which is very high and failure rate are less than 13%, this pattern is rated no 1 as per performance.

The Currency Pair has closed near the resistance line of the pattern, if the pair open gap up then we might be seeing a good buying pressure coming in the pair if not still the currency pair closes above the pattern for 2 consecutive days we will be positive for the upside move.

RSI has been trading in a range. A breakout can be a very good confirmation

Macd is trading below 0 and a crossover from 0 will be another good confirmation.

Advice : Buy if closing is above the pattern.

Buying Opportunity

Jul 17 2021

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