A buying opportunity can be seen in the currency pair; the pair has corrected from its recent high towards its previous low, the pair took support at the previous low forming a doji. Doji suggests confusion ; i.e. the buyer nor the seller are ready to give away the position. The next day the pair gaped up and closed near the high. The open of the pair is the low of today, this suggests that the buyer came into action from the open itself and yet sellers are not able to push the price down.

When we see a security with a doji at the Top or bottom and the next day the security close higher or lower doji close there is a significant entry point. In our scenario the Doji is formed at the bottom and the next day gapped up and closed near the high. This suggests that the demand will increase in the coming days, The probability of this happening is high.

The RSI is following the price and is expected to do so in the coming days.

Advice : Buy @ Cmp with Sl of Doji low (on closing basis).

USD/RUB

Oct 12 2021