The pair has made a higher high and the RSI and the MACD is not following the price. At the top the pair has made a northern doji, Gravestone Doji is one of the reversal signals, and will wait for the pair to confirm for one more day. If the pair closes below the 1.27850 we will get a confirmation for selling, will look for another confirmation the 20day EMA and 50day EMA are showing an upward move once they are flat or show negative trend we will get another confirmation. Divergences are seen so if this is followed we can expect the pair to correct.

EMA is a lagging indicator. A 20day may act 4-6 day late so we might get an entry late, so major confirmation will be the pair closing below the mention level.

Opportunity Ahead

Aug 22 2021

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