The currency pair is forming a double top pattern. Double Top is a Reversal Pattern where we expect the security to correct downside. EVE-EVE in double top is considered the best as per performance wise. In the Currency Pair Adam-Adam is formed. The Failure rate of the pattern is ok and the returns are good. Pullback is common in the pattern.

Acting on the breakout would be advised. If the security closes below 1.3435 taking a short position will be valid, till the time avoid to enter in short.

The security is trading below its EMA's which suggest negativeness.

If the security closes below the mentioned level, take position with a SL of 1.3480 closing basis.

Opportunity

Aug 30 2021

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