The Pair is trading in a Range at the upper level. A consolidation move in the upper zone ahead will suggest a move for the pair, if the close of the pair is on the upside then it will be a continuous pattern, and if the breakout is on downside it will be a reversal move.

The Failure breakout in the pattern is common which can lead to loose money, its better to maintain a strict sl in the pair once the breakout is seen in the pair.

For Multiple Confirmation if the breakout is on the downside the pair should trade below the EMA and the trend of the EMA should be negative. The RSI should trade below 47 and the MACD below 0 any single candle pattern can be the best signal.

If the breakout is on the upside the EMA should be trending positive and the MACD crossover should be seen and MACD should trade above 0.035 level. The RSI should trade above 64.

Advice : Buy or Sell on the breakout if the following confirmation are followed.

USD/PLN

Nov 06 2021