A Double Bottom pattern has been seen in the currency pair. A Double Bottom Pattern is a reversal pattern. A breakout from a pattern can be a good opportunity to enter long in the pair. An eve and eve in double bottom is one of the best trading patterns. In our case an Adam and Eve Pattern is formed. An Adam and Eve pattern is better than an Adam and Adam pattern.

The pair has taken support at the 50 day EMA. We will be advised to buy the pair once the pair closes above the neckline. RSI is following the price and we expect the same in the coming day. If the pair closes above the underling and the RSI trading above 73 we would suggest not to enter and wait for the retracement to enter.

Advice : Buy if the pair closes above the neckline.

CAD/CHF

Jan 18 2022