Previously on the currency pair we saw a harami pattern and we went on selling the currency and got a good return. From recent moves of the candle we can predict that the sellers are coming in the end and pushing the price to close below the EMA's. The 23Day EMA has been acting as a very strong support and resistance for the currency pair if we go backward, now it is acting as a Resistance for the currency pair. Whenever the currency pair has closed above the 23 day EMA for 2-3 days the pair has outperformed.

If the pair closes above the 23day EMA for 2 day we can expect the pair to trade at a higher level.

At lower level MACD has tried to cross but was not able to and has retest the previous low and again the macd is trying to cross the signal line, we can expect the crossover once the currency pair closes above the EMA, as MACD crossover below 0 is a good sign for buyers we can expect this move till 0 and above 0 as well.

RSI is also moving with the price and is expected to move in the direction of price.

The currency pair has closed above the BB moving average which suggests buying.

Advice : Buy if above condition are been followed

Buying Opportunity

Jul 30 2021

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