The Currency pair has been correcting from 4th of Nov, the pair has corrected from 55 levels to 25 i.e nearby 52%. There is a good opportunity to accumulate the pair at this level and wait for the pair to regain strength.

At lower level a window was made which was retraced recently but was not able to penetrate above the window and sustain above it. Sellers came in action to push the price down again. The pair is consolidating at a lower level with high volume which indicates accumulation.

The Gap made in the Pair can be said as exhaustion gap once the gap is filled, once the gap is filled we will consider the gap as exhaustion gap. Exhaustion Gap indicates change in trend.

RSI trading above 53 can be beneficial for the move.

DOT/USD

KUNAL KAMBLE

Jan 05 2022